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Tennessee Cities Pulling Out of State Pension Plan
Kingsport Times-News 
June 10, 2012
"The Tennessee Consolidated Retirement System [TCRS] bills itself as 'one of the best-funded pension plans in the nation,' but some local governments have been pulling their new hires out of the plan.... The reason: These cash-strapped political entities have found their contributions into TCRS to be too costly... [Tri-Cities Regional Airport's] TCRS contribution expense is almost 18 percent of payroll. The airport decided to go with a different defined contribution plan that would have a maximum 9 percent of payroll cost."
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