WPC's Center for Government Reform's mission is to partner with stakeholders and citizens to work toward a government focused on its core functions while improving its transparency, accountability, performance, and effectiveness for taxpayers.
Legislature Considers Defined-contribution Pension Reform for Public Employees and Elected Officials
Jason Mercier, Director, Center for Government Reform, February, 2014
A long-standing Washington Policy Center recommendation is that the state transition from costly defined-benefit pension plans to more predictable defined-contribution retirement plans for new state employees. A defined-benefit plan promises workers they will receive a certain dollar benefit level every month after they retire, while a defined-contribution plan provides workers a stable contribution towards pension savings during their working lives, along with tax-free employee contributions, which the worker can draw from during retirement.