Retirement Planners Keep Eye on Pension Reform

California’s pension predicament could be a huge opportunity for the retirement planning industry if Gov. Jerry Brown’s reform proposal that includes a “hybrid” plan moves forward.

The hybrid proposal is the cornerstone of Brown’s plan and calls for a three-legged retirement system for new state hires that combines a reduced pension benefit with a 401(k)-style retirement plan and Social Security benefits. There’s likely to be spirited competition for contracts to manage such plans if voters approve changes or the legislature adopts the proposal — and if the idea spreads to local government pension systems.

“The public retirement plans in California ...

Source: http://www.bizjournals.com/sacramento/print-edition/2011/11/11/retirement-planers-eye-pension-refom.html