Pension Funds Could Become 401Ks As States Look For Options

02/28/2011 05:43 pm ET | Updated May 25, 2011
  • Steven Greenhouse

Lawmakers and governors in many states, faced with huge shortfalls in employee pension funds, are turning to a strategy that a lot of private companies adopted years ago: moving workers away from guaranteed pension plans and toward 401(k)-type retirement savings plans.