When my organization first introduced its Secure Choice Pension (SCP) proposal in September 2011, we did not see it as an effort to reduce public anger over generous government pensions as some opponents so boldly assert.

To the contrary, we see it as a viable mechanism for giving private-sector workers what they want and what Americas economy needs reliable, lifetime retirement income immune to sudden economic downturns and market fluctuations that will allow those no longer working to contribute to the economy and not become reliant on government programs and entitlements.

When the Great Recession hit four years ago, it quickly deflated the value of 401(k)-style retirement accounts. Since then, workers have, in overwhelming numbers, expressed a desire for a more secure option for their retirement savings.

Not so long ago, private-sector workers enjoyed all three legs of the traditional retirement stool a pension, Social Security and personal savings like 401(k)s. But most private-sector employers have abandoned pensions, Social Security does not provide enough to live on, and even those who have saved diligently for retirement through 401(k)s are exposed to market fluctuations which put substantial portions of their account balances at risk through no fault of their own.

Small-business owners around the nation, and particularly in California, say they feel an obligation to provide retirement benefits and that providing those benefits would help them recruit good employees and boost their bottom lines. But they complain that they cant afford the plans currently available.

Our SCP proposal on which Sens. De Leon and Steinberg modeled Senate Bill 1234 and its California Secure Choice Retirement Savings Program proposes a public-private partnership to create an affordable, easily administered, professionally-managed retirement savings plan that private-sector employers could adopt for their employees.

A late-April survey of 505 California small-business owners with between two and 49 employees reveals widespread support (71 percent) for the De Leon-Steinberg proposal, with backing strong in every part of the state. That support crosses political lines as well with 78 percent of Democrats and 70 percent of Republicans in favor.

Senate Bill 1234 proposes a modest plan to provide modest benefits through conservative investments, leveraging lower-cost professional investment outcomes through economies of scale.

It is intended to address Californias retirement security crisis by providing millions of workers who have no employer-sponsored retirement benefits with access to a plan that their employers can afford. And all of this at no cost to taxpayers.

California taxpayers will most certainly be on the hook if these millions of workers are forced to retire without sufficient assets. Rather than engaging in purchasing, saving and other activities that contribute to the economy and generate tax revenues, they will be relying on public programs and entitlements, depleting public coffers and compromising economic stability and growth.

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Pension bill provides needed retirement option