Image by Hidesy via ShutterstockCalSavers Executive Director Katie Selenski says small businesses not yet in compliance with a state deadline to sponsor retirement plans for their workers will start receiving enforcement notices by the end of this month.
Per a recent Axios study, only 14% of young people want to spend their career in the government or in nonprofit work. This makes the government by far the least enticing employer to Gen Z, who overwhelmingly responded that they would rather work at any size company instead.
Allen Zaremberg, president and CEO of the California Chamber of Commerce, on Monday announced his retirement. (Photo: Cal Chamber file)Allan Zaremberg, the top executive at the California Chamber of Commerce for more than two decades, announced Monday he was stepping down. He is expected to stay in place through the end of the year.
The headquarters of the California Public Employees' Retirement System in Sacramento. (Photo: Kit Leong, via Shutterstock)OPINION: Those who think about CalPERS often limit their perspective to the context of pensions for public employees. But the reality is that every single person who wants to be able to get a job in a community with affordable housing, good schools, safe streets, and accessible public services needs CalPERS to be successful. Otherwise, we will all pay a steep price.
Chuck Pattillo, former general manager of the California Prison Industry Authority. (Photo: CalPIA)The head of the California Prison Industry Authority, an internationally known agency that trains inmates for such diverse occupations as carpentry, deep-sea diving, computer coding and farming, is retiring after more than a decade on the job.
The road ahead upon retirement. (Photo illustration: Gustavo Frazao, via Shutterstock.)Gov. Brown has signed historic legislation to set up California’s first state-run pension plan for private-sector workers, allowing millions of employees to continuously build a retirement nest egg regardless of where they work. The governor’s decision means California joins seven other states that offer similar programs, although California’s plan, called Secure Choice, will automatically enroll about 6.8 million workers.
A photo illustration of pension protection. (Photo: Billion Photos, via Shutterstock)In a decision that could serve as a national model, Gov. Jerry Brown is considering legislation to allow millions of private-sector employees to steadily build their pensions without interruption — even when they change jobs.
A retiree checks out the newspaper in his back yard. (Photo: Budimir Jevtic, Shutterstock)Calpensions: A board working on a proposal to enroll most small business employees in a state-run retirement savings plan, unless they opt out, was told last week that small technology-focused financial firms could do the job. The founders of three firms that offer 401(k)s and other retirement plans to small businesses did not object to competition from the state.
A classroom teachers helps a young student with Latin. (Photo: Goodluz, via Shutterstock)The retirement security of California’s retired, current, and future teachers and the stability of the state’s pension fund for educators would be put at risk if a ballot measure addressing those issues is approved by California voters next November, according to an internal analysis by CalSTRS that I requested as chairman of the Assembly’s Committee on Public Employees, Retirement, and Social Security.
San Bernardino firefighters on the front lines. (Photo: Sheri Armstrong)Bankrupt San Bernardino’s plan to cut costs by contracting for firefighter and other services has been aided by legislation and a court ruling. But a shortage of firefighters is causing a rough transition. A second fire station was closed earlier this month and others were hit with temporary “brownout” closures, delaying response times. New hires for 14 firefighter vacancies are not expected to complete training until next month.