As more and more employers shift from defined benefit to defined contribution plans, trustees of California Public Employees' Retirement System continue to buck the trend, and highlight the difficulty of converting public plans, according to the Sacramento Bee. .

The board has publicly criticized a proposal by California Assemblyman Keith Richman (R-Northridge), which calls for trimming the pension benefits offered to public employees hired after July 1, 2007, and offering, in exchange, a voluntary 401(k) retirement plan.

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