About 7.5 million Californians whose employers do not offer a retirement savings plan will soon have a way to save for retirement through payroll deductions.
Many people worry about remaining financially secure after leaving the workforce, but, according to the Employee Benefit Research Institute, less than half of U.S. workers report that they or their spouse ever tried to calculate how much money they would need to live comfortably in retirement.
The state population is aging, and financial crimes against older people are a growing concern. Thirty-seven percent of fraud complaints filed with the Federal Trade Commission in 2015 came from consumers 60 and older.