Commentary: Why a 401(k) is not enough

Defined-benefit plans are a critical piece of retirement security, and Illinois should not move state workers out of their existing pension plan, writes William Atwood, executive director of the Illinois State Board of Investment. "There is a role for defined contribution plans to play," Atwood writes. "Their prudent function is to augment the retirement security provided by a reliable retirement plan, ideally a defined benefit plan."

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State Journal-Register (Springfield, Ill.), The

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