State treasurer adds voice in opposition to pension changes that could put more workers in 401(k)-style plans
State Treasurer Jim McIntire is lining up with many of his fellow Democrats in opposition to a Senate plan to alter Washington’s state-government pensions. McIntire voiced his opposition to using a 401(k) or defined contribution plan in an op-ed column Friday in the Seattle Times.
One proposal from Republican Sen. Barbara Bailey is voluntary, letting new state hires opt in if they prefer to go to the more flexible approach that offers fewer guarantees in old age. But McIntire argues there is no problem to solve and that employees are not demanding the new option: