Re: “401(k)s, not pensions, says senator” (TNT, 1-14).
As a state employee, I read with interest the story about state Sen. Doug Ericksen’s proposal to eliminate state pensions and offer $10,000 to employees who convert to a 401(k). He says, “If it’s good enough for Boeing, it should be good enough for the employees of Washington state.”
I would like some more information:
• Would the state’s contribution be based on a machinist’s pay or on my current pay?
• Would the state provide a match plus 10 percent of my pay initially and 4 percent long term?