ACA 5 (Richman) – Mandatory DC Retirement Plans for New Public Employees

Assembly Bill

Would have required all state, school and local public employers to offer their new employees, beginning 7/1/07, only defined contribution retirement plans, and allow current public employees to transfer money from their existing defined benefit retirement plan to the employer-sponsored defined contribution plan offered to new employees.

  • Version: Introduced 12/06/2004
  • Sponsor: Author
  • Location: Assembly 
  • Board Position: Oppose

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