“A plan to create a state-run retirement program for nearly all private workers in California passed out of the Legislature late Wednesday and now awaits approval by Gov. Jerry Brown.

But even if the governor signs the bill written by Senate leader Kevin de León (D-Los Angeles), which was opposed by some in the investment industry, the nearly 7 million workers eligible for the plan probably won’t be able to start parking money in the retirement system until 2018.” – LA Times

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