"The proposed plan includes a mandatory, 401(k)-style plan for all new employees making at least $75,000 annual income. In addition, all employees could be given the option to participate only in a defined contribution plan at their time of hire. The plan also features a risk-sharing component for all new employees.... [T]his proposed plan would reduce Wall Street management fees within the state's two largest retirement systems by a combined $200 million annually. The total savings to the state are an estimated $20.2 billion."