Here is a link to an interesting piece that explains why some people feel that public pension plans based on defined contributions usually end up being more expensive for taxpayers than defined benefit plans as well as harder on retirees:
Commentary of the Day – March 3, 2005: The Myths and Realities of Public Employee Pension Plans. Irreverent Commentary on the State of Education in America Today. By Dr. Mark H. Shapiro.
The URL for the full article is: http://irascibleprofessor.com/comments-03-03-05.htm
Please note also that there is another link within the article in paragraph 7, under the words “For example.”
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