A lot of people with a Libertarian streak hate state-mandated IRA programs. Even with my distaste for the government and their idea of funding Social Security with just a lick and a promise (obligatory Aerosmith reference), I like mandated state IRA programs. In the end, I’m a capitalist and it’s opportunity. 117,000 employers have registered with CalSavers. If you are a plan provider that is 117,000 employers that didn’t have a retirement plan, but do now.
These are 117,000 employers that may be interested in what you have to sell, a 401(k) opportunity that could be a stand-alone plan or joining a pooled employer plan. The only way this industry can grow is if more employers offer retirement plans. So even if these employers are drafted into offering a plan, it’s an opportunity for us all.
