NY State Pension Trustee Calls 401(k) Plans ‘Woefully Inadequate,’ Defends DB

NY State Pension Trustee Calls 401(k) Plans ‘Woefully Inadequate,’ Defends DB

12/14/11

Defined contribution plans should not replace defined benefit plans, asserts Thomas DiNapoli, the New York state comptroller and sole trustee of the $133.8 billion New York State Common Retirement Fund.

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