A hybrid retirement plan combines parts of a defined benefit plan with parts of a defined contribution plan. Dan Doonan, the Executive Director of the National Institute on Retirement Security, and Elizabeth Wiley, a consulting actuary at Cheiron, wrote the book on hybrid plans – literally! Dan and Elizabeth penned The Hybrid Handbook, a white paper on hybrid retirement plans in the public sector. Listen as they share their insights on these plans along with some of their favorite case studies.  Some highlights from Not All Hybrid Plans Are Created Equal include: 01:27 – Hybrid Retirement Plans: The Case Studies 06:30 – The Best Time to Plant a Tree… 10:56 – Unfunded Liabilities and a Cause for Concern 14:35 – Risk Sharing vs Risk Shifting 19:03 – The Efficiency of Pensions vs Defined Contribution 24:30 – Thoughts on Pension Reform Click on The Hybrid Handbook if you'd like to read or download a PDF of Dan and Elizabeth's white paper.