Vast majority of public employees choose DB over DC where option is available
Most public sector employees with the option of participating in a defined benefit plan or defined contribution plan choose the DB plan, said a report released Wednesday by the National Institute on Retirement Security and Milliman. Among the seven states studied where employees are offered both options, DB plans were picked up by 75% or more of employees hired in 2015. In fact, from 2006 through 2015, DB pickup rates have been 70% or more every year for new [...]