State Sen. Kevin De Leon wants to create a state-run but privately insured pension program to help keep struggling retirees from falling back on state aid.

America being the land of instant gratification, its residents tend to save far less than their foreign counterparts do -- when they save anything at all. As a result, millions of people are heading into retirement with little more than their Social Security benefits to sustain them. Fearful that many will wind up dependent on state aid to get by, California Sen. Kevin De Leon (D-Los Angeles) wants to create a state-run but privately insured pension program that prompts more workers to save for their dotage. Business groups are fighting the proposal, arguing that Californians already have plenty of ways to save for retirement. But if they're not availing themselves of those options, is it better to let them slip into poverty as the consequence of their imprudence, or to come up with a savings plan they will use?

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