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Pensions crushed General Motors, and it is crushing the governments in California.

Frank A. Pezzanite, chief executive of Library Systems & Services — explaining why his company, when they are hired to run libraries, have workers sign with a 401(k) retirement fund and no pension.

Frank A. Pezzanite, chief executive of Library Systems & Services — explaining why his company, when they are hired to run libraries, have workers sign with a 401(k) retirement fund and no pension.

Andy Kim is a former GOVERNING staff writer.