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Pension benefits are primarily designed to favor workers who work a full career (typically at least 25 years of service), which account for approximately 24% of state-level public workers. In a study of 335 statewide retirement plans, Equable Institute found that 74.1% of pension plans in the US served this group of workers well.
The California Public Employees' Retirement System (CalPERS) is an agency in the California executive branch that "manages pension and health benefits for more than 1.5 million California public employees, retirees, and their families".
San Bernardino County (/ s æ n ˌ b ɜːr n ə ˈ d iː n oʊ / ⓘ SAN BUR-nə-DEE-noh), officially the County of San Bernardino and sometimes abbreviated as S.B. County, [6] is a county located in the southern portion of the U.S. state of California, and is located within the Inland Empire area.
The proposal “fundamentally changes the state’s retirement benefit,” according to the Legislative Analyst’s Office. California to fund 401(k)s for prison guards on top of CalPERS pension ...
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Other local governments have considered it, though, most notably San Bernardino County in Southern California, ... including pension plans, mutual funds and 401(k) retirement accounts." ...
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