As next week’s June 15 budget deadline looms, legislative leaders hammering out differences between the Assembly and Senate versions of this year’s $171 billion budget for the fiscal year that begins July 1 will also be deciding the fate of retirement security for future University of California workers.
Within the next 20 years, the number of Californians beyond retirement age will increase by two-thirds, to 12 million. Many of them — half, by some estimates — will have saved less than they need to subsist on after they stop working, leaving them no choice but to either work until the end of their […]
More than seven million people—over one-fifth of California’s population—work without a path to retirement. They have neither a 401(k) — the so-called “roller-coaster plan” tied to the stock market — nor a traditional pension that was once considered a worker’s right and which is now a rare species outside of government employment or the public […]