JLC warns,

Right now, what I read about CA is that it has massive budgetary problems. I wouldn't be so sure that in 10-15 years CA retirement pensions aren't cut. Who is to say that CA doesn't file for bankruptcy or defaults? Everything gets cut 20-40%? Who knows?

I would be looking to see if you can get a lump sum payment at retirement. But thats just me. I'd rather have my money in my grubby little hands as opposed to someone elses

</snip>

Interesting perspective. I seem to remember 20-40% loses in privately-managed 401k plans during the waning days of the Bush Administration.

intercst