What would “truly transformational” public pension reform look like in New York? E.J. McMahon answers the question in an op-ed article in today’s New York Post.
The key, E.J. argues, is to replace the traditional defined-benefit (DB) pension with a defined-contribution (DC) plan — and a ready model exists, in the form of an annuitized retirement accounts that the State University of New York has offered as an option since the mid-1960s.
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