Senate Bill 1234 Makes Grab for Retirement Savings, Whilst Sounding Made Up
On August 31st, California Senators passed SB 1234 (1234, you can’t make this stuff up) legislation to establish a State controlled retirement plan for workers without access to 401k or pension plans by employers with five or more employees. Governor Brown is expected to sign the bill into law this year.
Is Your Investment Strategy Flawed?
For years multiple studies have indicated that many public and private pension plans are woefully underfunded and potentially unable to pay their participants their long awaited lifetime of pension payments. For 14 years the American Academy of Actuaries and Society of Actuaries were engaged in a task force study to determine the extent of pension projected under-funding.