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Christine Mahoney of Mercer Consulting reckons that the cost of funding a 60-year-old employee in a DB scheme is 12% of payroll, whereas in a DC plan it is just 6%.
ECONOMIST: All hands on deck
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To make this move, you have to work for a company that offers both a 401(k) defined contribution plan and a traditional defined benefit pension plan, and offers the option to roll assets from the former (the DC plan) to the latter (the DB pension).
FORBES: How To Make Your 401(k) Last Forever: The Pension Rollover
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Robert Reich, a labour secretary under Bill Clinton, this week declared that leftists must march in support of the public plan in Washington, DC, on September 13th.
ECONOMIST: Health reform
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Gerrie added the DC to DB rollover option into an employer plan at the request of several members of a professional services firm of about 400 employees.
FORBES: How To Make Your 401(k) Last Forever: The Pension Rollover
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They must plan that spending from the center of Washington, DC.
FORBES: The Question I Ponder: Who Plans (And Spends) For Whom?
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In Washington, DC you cannot move without tripping over senior Republicans with a new plan to polish up their party's appeal.
BBC: Republican rank and file have little appetite for change
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But more ambitiously, Amtrak recently hired consulting firm KPMG to develop a plan for high-speed rail service from Washington, DC to Boston by 2020.
BBC: The futurist: Putting the choo-choo back in Chattanooga