The report "Are California Teachers Better off with a Pension or a 401(k)?" by Nari Rhee and William B. Fornia examines the retirement crisis facing California and the US, specifically the declining pension coverage and inadequate savings of low- and middle-wage workers. The authors argue that policies to improve retirement income prospects for these workers, such as state initiatives to increase retirement savings, are necessary. The report also highlights the importance of behavioral finance research in developing effective retirement plan design. William B. Fornia, the report's co-author, is a retirement plan consultant with 35 years of experience in the public sector.