To the editor: With all the problems facing California, the nanny-state Legislature in Sacramento has enacted the CalSavers retirement plan.
This program is for people who are too lazy or too shortsighted to plan for their retirement. The state does not need to initiate more bureaucracy and put more demands on business owners when employees can obtain a retirement savings plan (such as a pre-tax IRA or a post-tax Roth IRA) on their own.
And, investment fees of 0.825% to 0.95% are quite high. I’ll stick with my Vanguard IRA Target Retirement fund with a 0.13% fee.
Nancy J. Grubb, Fontana
To the editor: “The state has you covered” — these words should strike fear into every would be CalSaver retirement investor.
Folks, take charge of your retirement savings and open an IRA account with any reputable mutual fund company. Invest as much as you can afford in a retirement target date fund (.15% fee) and don’t touch it.
Now, your IRA contribution is funded for a whole lot less than “the state” is charging.
Michael Rubino, San Pedro