Scott Beaulier’s Mercatus working paper on defined benefits vs. defined contributions was cited by Bloomberg.

Other states should copy the “radical reform,” said Scott Beaulier, director of the Johnson Center for Political Economy at Troy University in Alabama. Michigan’s pension-funding ratio was 78.8 percent in 2010 -- 18th best among the 48 states Bloomberg ranked. “They were able to get around some of the challenges that other states face now,” Beaulier said. Michigan converted when its pension was well funded and the stock market was growing. Beaulier said it would be harder for states with unfunded liabilities to switch now.