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Pension plan: Bill would make 401(k)s for new state employees

Published 04/28/2010, The Jamestown Sun

Newly hired government employees and school teachers in North Dakota should have their own retirement savings plans instead of a pension that’s guaranteed by taxpayers, a state lawmaker says. Rep. Frank Wald, R-Dickinson, predicted Tuesday that the North Dakota Legislature will be wary of proposals to pump money into the state’s troubled public employee pension funds, which would ease the need for workers to raise their contribution rates.

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