Washington State Senate Explores Shift to 401(k)-Style Plans
OLYMPIA, Wash (AP) - A new proposal in the Washington state Senate would shift many government workers into a 401(k)-style retirement system.
The plan developed by Senate Majority Leader Rodney Tom seeks to close pension systems. Workers under the age of 45 and new employees would be shifted into a defined-contribution plan funded mostly by the employees.
Tom says the idea is designed to move government workers away from defined-benefit plans that are becoming less common in the private sector. Opponents say the idea would make it more difficult to retain quality teachers and other employees while making it more difficult for workers to have a secure retirement.
Tom is a Democrat working with a Republican-dominated coalition. Other Democrats express concerns about his bill.
Tuesday, May 21 2013 1:43 PM EDT2013-05-21 17:43:51 GMT
BREAKING NEWS - The Medical Examiner's Office has revised the death toll in the Moore, Oklahoma tornado from 91 people to at least 24 people.>>
UPDATE: Originally the death toll was reported to be 91 people and counting, however, the Medical examiner's office revised the death toll from the Oklahoma tornado to at least 24 people. A spokeswoman said Tuesday morning that she believes some victims were counted twice in the early chaos of the storm.>>
Tuesday, May 21 2013 3:31 PM EDT2013-05-21 19:31:19 GMT
WASHINGTON (AP) - Wind, humidity and rainfall combined precisely to create the massive killer tornado in Moore, Okla. >>
WASHINGTON (AP) - Wind, humidity and rainfall combined precisely to create the massive killer tornado in Moore, Okla. And when they did, the awesome amount of energy released over that city dwarfed the power of the atomic bomb that leveled Hiroshima. Meteorologists contacted by The Associated Press used real time measurements to calculate the energy released during the storm's life span of almost an hour.>>