Tag: local defined contribution plans
The brief’s key findings are: In 2018, 19 percent of large localities had a defined contribution (DC), cash balance, or hybrid plan for new hires, instead of a stand-alone defined benefit (DB). The volume and geography of alternative plans at the local level is similar to that of states, but localities are more likely to…
Introduction Although defined benefit plans dominate the state and local sector, in the last decade twelve states have introduced some form of defined contribution plan. The degree of compulsion varies among these states from mandatory participation in a defined contribution plan for new employees, to mandatory participation in both a defined benefit and defined contribution…
