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| Topic: |
Business
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| Number of pages / Number of words: |
6 / 1519 |
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Some people have no choice if they want to work for a certain company that does not offer a certain pension plan they are looking for. Others have the option as is the case with Michigan state employees. In 1997 Michigan stopped offering D.B. pension plan to new state hired employees. D.C. accounts were established and put in place of the defined benefit (D...
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D.C. accounts were established and put in place of the defined benefit (D.B.) plan. This change changed long term obligation facing Michigan taxpayers. This also put a burden on the pension promise for state workers. In general people usually pick the employer and the primary pension plan offered by that employer...
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