With the regard to the article, the state legislatures thought were going to do a lot better contribution in defined contribution (401(k). But that didn't happened as a result. Many teachers hardly had enough retirements saved up. Too many didn't contribute enough so the legislatures pressured to the union. But I also think, 401K is really not a good retirement alone for state or local government since public pay do not compensate well compared to private.
Last edited by tripods68 : 06-15-2008 at 09:07 PM.
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