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In Little Rock, Protecting Retirement Security through a Pension
American Federation of State, County and Municipal Employees [AFSCME]
[Opinion] Apr. 8, 2013
"At a time when many American workers are headed toward retirement insecurity because of a right-wing attack on traditional pensions, the city of Little Rock, Ark., is trying to do right by its public service workers.... Under the proposed system -- which would go into effect next January for current and future employees -- workers will make a contribution to their retirement fund of 4.5 percent of their pay, up from the current 3.5 percent. The city would contribute 9 percent, up from 7 percent.... [T]he consultant said this will actually be cheaper for the city than requiring employees [to] join the state's [defined contribution] retirement system."
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