Council representing hundreds of thousands of construction workers backs November ballot measure to protect retirement savings from new state taxes

Sacramento, CA – The campaign for the Retirement & Personal Savings Protection Act today announced the endorsement of the State Building and Construction Trades Council of California, which represents hundreds of thousands of construction workers across the state. The endorsement adds one of California’s largest and most respected labor organizations to the growing coalition supporting the measure, which will appear on the November ballot.

“The State Building Trades has consistently advocated for fair wages, strong benefits, and retirement security for working families,” said Chris Hannan, President of the State Building and Construction Trades Council of California. “Our members have earned their retirement through a lifetime of hard work, and they should not have to worry that new taxes will threaten the financial stability they have built. This measure protects their retirement savings, as well as the savings of all Californians who have planned responsibly for the future.”

The endorsement comes as Californians across the state express deep anxiety about retirement security. California is already the third most expensive state for retirement, with the average Californian needing nearly $2 million in savings to retire. At the same time, families are struggling to keep up with rising costs, and voters want stronger protections against new taxes on retirement and personal savings.

The Retirement & Personal Savings Protection Act will protect retirement savings and personal property from new state taxes. The measure is supported by a diverse coalition of groups across California, including the California Senior Alliance, the California Small Business Association, Disabled American Veterans, Department of California, and the California Multicultural Business Alliance.