Headline: New Case Studies Find Increased Taxpayer Costs When States Move Employees Out of Pension Plans
Publication: National Institute on Retirement Security
Article Date: Aug 7, 2019
“A new series of case studies finds that states that shifted new employees from defined benefit pensions to defined contribution or cash balance plans experienced increased costs for taxpayers, without major improvements in funding. The research also indicates that the move away from pensions cuts employees’ retirement security and that employers may face increasing challenges hiring and retaining staff to deliver public services.” Read article…