Fact Sheet (pdf)
SCA 1 would prohibit California taxpayer funds from being used to fund the newly created California Secure Choice Retirement Savings Program
SB 1234 (De Leon, 2016) created the Secure Choice Retirement Savings Program, a defined contribution, individual retirement account that mandates private employees participate through payroll deduction into a retirement savings account managed by the state. The program requires employees to contribute up to 8% of their salary into their newly established personal retirement plan. This constitutional amendment would prohibit the use of any taxpayer funds to be used toward the Secure Choice Program.
- The Mercury News: Congress considers blocking California retirement savings plan
- Fox & Hounds: SCA 1: A Warranty on Government Promises