"Across the country, the pension reform debates have spurred a lot of talk about how to fix the mess created by runaway defined benefits plans that promised more than they could deliver. So it's no wonder that pension skeptics are suspicious about the latest scheme to emerge from traditional pension advocates, notably the labor groups and many in the actuarial community, who have proposed 'cash balance' plans as the new panacea.... For those unfamiliar with cash balance plans, they are sometimes known as 'defined-benefit plans in drag.'"  MORE >>