[h/t Newsmax] In its infinite wisdom, the State of California has decided to force workers at companies with more than five employees to save for their own retirement. While it may seem misguided for California to punish workers for the sins of their employers, it should come as no surprise.
The idea that a State Legislature considers itself more capable of managing its citizens’ money than its citizens themselves is nothing new, but doing so in California because the state’s Union pension management systems are bankrupt because of corruption and mismanagement opens up a whole new world.
As the Newsmax article suggests:
[Images courtesy of Newsmax & P-CCPA]
Letting CalPERS manage more pension money is like asking Obama to be your doctor.