States are moving away from defined benefit plans and to defined contribution plans for their new hires.

With more than 300 investigators in 10 regional offices nationwide and nine specific areas of focus its bound to happen sometime.

The organization says treating the retirement savings income deferral like a permanent exclusion is terribly misleading, and could lead to bad policy decisions.

Moodys has downgraded a number of states for various practices, such as taking pension holidays and deliberately ignoring required contributions.

Participants in defined benefit pension plans have a pretty good idea what their benefit will be when they retire. Not so for participants in defined contribution plans.

The group hopes regulators will give it until early August to respond to an "extremely complex process."

The program is designed to help players make more informed financial decisions and make a smoother transition into post-football careers.