"As states look to solve long-term funding shortfalls in their defined benefit plans, some are either offering new employees a DC plan as an alternative to a traditional pension or closing the plan to new hires altogether and giving them a defined contribution plan instead. To date, nine states offer a defined contribution plan as an alternative to a defined benefit plan, and three -- Alaska, Michigan and Oklahoma -- have taken the broader measure of offering a DC plan as the only option for new workers[.]"

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