NEW “SECURE CHOICE” PLAN OPENS DOOR TO RETIREMENT FOR MILLIONS OF PRIVATE SECTOR WORKERS IN CALIFORNIA

Sacramento, CA – Members of the Service Employees International Union (SEIU) in California praised California’s leadership in establishing a voluntary retirement savings plan for millions of private-sector, home-based and self-employed workers.   The Secure Choice plan signed into law today by Governor Jerry Brown will make more than seven million Californians eligible to save for retirement through payroll deductions, with accounts that follow them throughout their working years. The significance of this new approach to retirement security is enormous –  the Secure Choice plan will make retirement savings possible for millions of Californians for the first time in their lives.    Access to a simple, automatic retirement savings plan is crucial to head off a projected tsunami of senior poverty that will take its biggest toll on women, Asian Americans and Latinos who are a growing share of future seniors.