New La. state workers should get a hybrid pension, governor says

01/31/2012 | Business Insurance (tiered subscription model)

Louisiana Gov. Bobby Jindal is backing a proposal to switch new state employees to a cash-balance pension plan, a hybrid of traditional pensions and 401(k)-style defined-contribution plans. The plans would shield employees from risk, but could be rolled into an IRA if workers leave their job, Jindal said.

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