From Governing.com
''Public-employee pensions have long been a hot topic for Better, Faster, Cheaper. I have more than once made the case for switching from the traditional defined-benefit approach to a defined-contribution system with a cash-balance option
that would insulate governments from short-term market fluctuations.
For risk-averse workers, the cash-balance component would guarantee
employees an annual interest rate on their contributions and the
employer's match.''
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