Source: Los Angeles Times Amid the nationwide panic over the rising costs of public employee pensions, one proposed solution is nearly universal: States and municipalities should shutter their traditional defined benefit plans and place all new employees in a 401(k)-style defined contribution plan instead. That’s the idea in a proposed California ballot initiative we reported on last week. The measure, which would end defined benefit plans for new employees as of Jan. 1, 2019, was praised by the Wall [...]