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In our latest it's all your money segment.
Since the worst of the financial crisis belt tightening has become popular again with individuals.
And families most by necessity with fewer dollars coming in less could be spent on frivolous things.
But it's been a self imposed necessity.
Well now in California those already struggling to get by may be forced.
Forced to live with -- even less now in hopes of having more in the future course -- away much less explains.
In that thing about retirement that thing about today.
And I need my money to eat today.
Not to retire -- -- -- California solution force employers who don't offer retirement plans to withhold 3% of every worker's paycheck.
It's a lot easy.
To put the money away before you -- Before you can even spending managed by the state to new pool of money would deliver a meager -- guaranteed rate of return.
What is promised in the bill is not possible to deliver if you could deliver guaranteed returns.
With -- less than 1% cost no employer liability no government liability that's a fantastic.
Supporters disagree arguing an insurance policy can guarantee.
Treasury bill type returns.
I think we can fix it.
By making it easy -- people.
To spend less and save -- savings that will pay dividends for the millions trying to get by -- 141000.
Dollars a year.
That's the average annual Social Security can come public California retirees most people can't save money.
And then to save it for error when you're -- very hard.
We like sitting -- for fifty years.
Businesses oppose the plan for several reasons one employers who failed to comply will be find Jordan fifty dollars per worker.
They also fear the state will require them to match the employee contribution.
As many large corporations do now.
Just becomes another opportunity for liability.
Another opportunity for a lawsuit and yet another burden that workplace and on the employer.
Currently 62% of private sector workers do not participate in their employer's retirement plan.
The state wants to reduce that figure by requiring universal.
Automatic enrollment for every one.
-- employees -- periodically opt out of the state predicts most will not the plan still these iris approval -- the California hopes to get this off the ground.
For the next two years.
Okay William thank you.
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