September 30, 2011 — Reuters reports that many states are looking to reshape their retirement plans to resemble those private sectors, but they have yet to examine the true costs and benefits of switching plans from a defined benefit to a defined contribution plan.

“Most states that have done those feasibility studies have found that you’re not going to save any money” by switching to a defined contribution plan,” says NIRS Director of Programs Ilana Boivie to Lisa Lambert of Reuters.

The story appeared on CNBCThe Gulf Today and Yahoo News.