OKPOLICY.ORG
Studies in 13 states that have considered a switch to defined contribution plans have reached an actuarial consensus that closing a defined benefit plan lowers investment returns and thus increases unfunded liabilities.
-Researchers Ross Eisenbrey and Steve Herzenberg, in a report finding that lawmakers’ plan to move state pensions to a 401(k) style system could create billions of dollars of additional costs for taxpayers (Source: http://bit.ly/1dyYGsg)
