A bill sitting on California Governor Jerry Brown’s desk could provide a retirement savings plan for private sector employees who don’t have one.
It passed on a party line vote the last day of the legislative session, after the Governor requested changes.
The bill establishes a board to make sure it doesn’t cost taxpayers money. And last minute changes to the bill give the legislature final authorization.
Democratic Senator Kevin DeLeon (Day-lee-OWN) authored the bill. He says more than seven million private sector employees don’t have access to a retirement plan.