The important note is that in doing so, Idaho significantly reduced unfunded liabilities from roughly $353 million in 2006 to $21.6 million in 2008. The key: Changing from a ‘defined benefit’ plan to a ‘defined contribution’ plan.
NOTE: This is the second in a series of snippets derived from information garnered from the recent ALEC Conference in Dallas. Feel free to share your thoughts in response to my comments. And you can visit my blog: vitobarbieri.com