News
States eye CalPERS pension model
The CalPERS' governing board during a meeting several years ago at the pension fund's headquarters. (Photo: CalPERS board)Calpensions: A California plan to give private-sector workers a state-run retirement savings plan is nearing $1 million in contributions, the goal set to pay for a market analysis to help design the program. Although the California plan is still in the formative stage, last week the Illinois legislature approved a plan based on the California model, even using the same name, “Secure Choice.”