In the wake of turbulent financial times, policymakers in your state have been talking about shifting from a defined benefit pension plan to a defined contribution pension plan or a hybrid alternative for new state employees. You work for a state legislator who asks you to research the pros and cons of making the change.

Access the Center for Retirement Research at Boston College at http://crr.bc.edu and search for the Issue Brief entitled A Role for Defined Contribution Plans in the Public Sector. Prepare a memo for the legislator that address his request.