{"id":24827,"date":"2011-03-01T22:06:22","date_gmt":"2011-03-01T22:06:22","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/pension_funds_strained_states_look_at_401k_plans\/"},"modified":"2011-03-01T22:06:22","modified_gmt":"2011-03-01T22:06:22","slug":"pension_funds_strained_states_look_at_401k_plans","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=24827","title":{"rendered":"(NY Times) Pension Funds Strained, States Look at 401(k) Plans"},"content":{"rendered":"<p>Lawmakers and governors in many states, faced with huge shortfalls in employee pension funds, are turning to a strategy that a lot of private companies adopted years ago: moving workers away from guaranteed pension plans and toward 401(k)-type retirement savings plans.<\/p>\n<p>The efforts come as the governors of Wisconsin and Ohio, citing dire budget problems, are engaged in bitter showdowns with public-employee unions over wages, pensions and collective bargaining rights.<\/p>\n<p>The new plans allow states to set a firm, upfront limit on the amount they will contribute and leave it up to the employee and the financial markets to make the money grow. In a traditional pension system, the employer promises a certain benefit, then must find a way to pay for it.<\/p>\n<p><a href=\"http:\/\/www.nytimes.com\/2011\/03\/01\/business\/01pension.html\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lawmakers and governors in many states, faced with huge shortfalls in employee pension funds, are turning to a strategy that a lot of private companies adopted years ago: moving workers away from guaranteed pension plans and toward 401(k)-type retirement savings<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=24827\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,149,662,593,151,619,596],"tags":[],"class_list":["post-24827","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-economy","category-pensions","category-personal-finance","category-politics-in-general","category-state-government","category-the-credit-freeze-crisis-of-fall-2008the-recession-of-2007"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/24827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24827"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/24827\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}