New Hampshire

Despite concerns that New Hampshire's public pension system is underfunded by nearly $4 billion, officials and unions are at odds over solutions.

A fierce political battle is under way as that state's legislature seeks to move away from the traditional pension system to a defined-contribution plan similar to the 401(k) plans millions of Americans have moved toward over the past few decades.

Union officials have argued that administrative costs for new plans would actually add more than $1 billion in costs; proponents have countered with calculations of their own showing $2 billion in savings over the next decade.

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