A new study shows strong employer objections to state-run plans such as those recently proposed by legislatures in California and Massachusetts.

Specifically, employers in focus groups voice concern about the lack of transparency, lack of customization, risk that assets will be siphoned off for other purposes, lack of participant faith in the system, and lack of adviser involvement, according to the report "Legislative and Regulatory Developments Plan Sponsors Need to Follow in 2013" published by the Retirement Advisor Council.

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