Smart Thinking
Smart Thinking
Washington State Debates Innovative Pension Reform

In Washington State, a group of legislators is taking steps toward a defined-benefit pension plan for public workers. A bill proposed today by a Republican State Senator would offer public-sector workers a $10,000 signing bonus if they switch from their defined-benefit plans to a defined-contribution plan. The bill is modeled after a similar measure going into effect at Boeing, and although it is modest in scope—limited to only 2,000 workers—it could be a sign of bigger things to come.

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