Democratic opposition kills aggressive retirement reform in Washington state

2014-01-28T22:48:35-08:00January 27th, 2014|Categories: Retirement|Tags: , , |

A Washington state senator who previously announced his intention to push legislation to move the state’s workers to a 401(k) retirement program has changed his mind, and won’t run the bill due to Democratic opposition. State Sen. Doug Ericksen, R-Ferndale, confirmed last week that he won’t run his bill to give state workers $10,000 a piece to switch from a taxpayer-guaranteed defined-benefit pension plan to a 401(k) plan, typically known as a defined-contribution plan. Ericksen’s announcement stems from political opposition from Democrats who rejected [...]