Posted: Mon. July 6, 2015
Senior Fellow Lawrence McQuillan, author of California Dreaming is interviewed by Michael Krasny on KQED radios Forum program. McQuillan tells of his plan to resolve the pension crisis in California and other states by switching from the current system to a 401(k) style of retirement plan, as most private sector companies use. This way, McQuillan argues, the public employee retirement system would be portable and transparent while remaining solvent.