Part of the fix for Iowa's seven-billion-dollar pension debt may be the end of defined benefit pensions. Lawmakers in Des Moines this week talked about the need to get ahead of the state's unfunded pension liabilities. The general assembly has asked the Reason Foundation, a Libertarian think tank, to study the state's problems. One of Reason's pension solutions is to move from defined benefit pensions to 401k style retirement plans, similar to what workers in the private sector have.
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