In The Loop

RLACEI is committed to providing its’ members with information on legislation that may impact members retirements, scams that can threaten members financial status, and resources or tools to improve our members’ lives.

Legislation

California Delete Act (SB 362)

Allows California consumers to delete personal information from 600 data brokers and imposes stiff penalties if the data brokers fail to remove the consumers information.

The State website gives Californians to ability reduce their digital footprint, increase their privacy, reduce spam emails and texts and ID fraud.

Learn more at www.privacy.ca.gov/drop 

November Ballot Measures

Of the 14 State ballot measures Californians will vote on this November, five involve taxes. A short nonpartisan summary provided by CalMatters of Prop 40, 41 and 42, can be seen at https://youtube.com/shorts/RNMg3cu-A0s?is=GleOpe3QqmvmrWGa 
You may the full website for CalMatters at https://calmatters.org/ 

Proposition 40

The so-called “Billionaire Tax”, if approved by voters, would make California the first state to impose a wealth tax. The one-time tax funds would be earmarked mainly for public health care shortfalls due to Federal cuts.

https://voterguide.sos.ca.gov/propositions/40/index.h

Proposition Prop 41

Nullifies State taxes enacted after January 1, 2026, that exempt their revenues from voter-apA proved state spending limit. Requires pre-election and recurring audits of programs funded by new special taxes.

https://voterguide.sos.ca.gov/propositions/41/index.htm

Proposition 42

Prohibits new state taxes on personal property and on some retroactive state taxes

https://voterguide.sos.ca.gov/propositions/42/index.htm

Proposition 43

Will limit voters’ ability to raise revenues for local government services by increasing the approval threshold from over 50% to two-thirds majority.

https://voterguide.sos.ca.gov/propositions/43/index.htm

Proposition 3

Provides permanent funding for schools and health care by making permanent the current temporary higher income tax rate for the state’s high-income earners.

https://voterguide.sos.ca.gov/propositions/3/index.htm

Scams

Seniors Targeted

In 2025, seniors age 60 and older reported $7.748 billion in losses online*. Scams have become a part of everyday life and everyone, especially seniors must be on guard to protect their assets and safeguard their personal financial information. 

Scams Targeting Seniors and the Elderly - https://www.seniorliving.org/research/common-elderly-scams/

Some of the more common fraud scams involve:

•   Investments/Banking

•   Tech Support

•   Romance/Dating websites

•   Collection Agencies

•   Government Imposters

•   Grandparent/Emergency calls/Texts/Emails

•   Sweepstakes/Lottery

•   Phone/Telemarketing

To protect yourself, never give out your personal, private, or password information. Legitimate companies never ask for personal information.  When in doubt, always contact your financial institution, relatives or government agencies directly to verify any requests for information or money.

Recently Talked About Scams

• Ghost Tapping/Tap to Pay -

• Cash Trapping- External device attached to ATMs captures withdrawn funds

• Stuck Card - External device inserted into card reader card trapping your card

• Fake Delivery text message – Claims an outstanding balance is due and is holding up your package delivery

• Ghost Subscription- Data retrieved from data breaches is used to charge credit cards with inexpensive monthly subscription fees

Note: 90% of fraud victims know and/or trust the fraud perpetrator.