While it has seemed like the second appearance of longtime California Governor Jerry Brown might produce even more drastic changes to the state's retirement systems, analysts say his reform movement may have run out of steam.
Last year, Brown was able to pass the first of a series of modifications to the most populous (and at one time most prosperous) state's vast public pension plans – not quite to the extent that he wished, but close – as well as dangling the prospect of a mandatory, state-run retirement plan created for low-income workers without access to tradional DC options.
But as the San Diego Union Tribune has noted, while Brown suggested that he would build on the momentum to introduce even more radical efforts to save money for the state, the results have been far from the quick fix first suggested to voters.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
