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Much discussion about the condition of our state pension systems has been taking place this legislative session. A number of bills have been proposed to alleviate the shortfalls and make the systems solvent. Most of that debate has centered on the merits of two styles of retirement plans: defined benefit and defined contribution. I contend that the debate is not broad enough. John Musgrove Gary Buchanan recently wrote an op-ed piece about state pensions. He noted that our state pension systems were actuarially sound by the en...