Here’s a plan for state workers as I see it. For every dollar that a worker invests toward retirement the state matches another dollar—similar to a 401-k. Then any state retirement pension should be 40-50% of highest salary and not to exceed 20 years total. Pension payouts could be deferred to years selected by the employee. Still a nice deal for employees and saves the state some $$ in huge pension payouts.
No, they pay a 4-6% match, like every other company.