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Wash. Senate explores shift to 401(k)-style plans

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OLYMPIA, Wash (AP) — Many workers in Washington state government would be shifted out of pensions and into a 401(k)-style retirement system under a bill heard Monday in a state Senate committee. The plan developed by Senate Majority Leader Rodney Tom would put new workers and those under the age of 45 into defined-contribution plans funded mostly by the employees. Tom said the idea is designed...

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