The change was a godsend to companies experiencing cash flow issues, but Fitch Ratings, among others, doesn't think it's the best way to go.

Public pension funds in Canada have faced vast unfunded liabilities and an aging work force, much like those in the U.S.

Experts say the best way for cities and states to get out from under crippling pension debt is to close their pension plans to new hires and move employees to lower-cost defined contribution plans.

Although the idea isn't new, because of market expectations and initiatives, private exchanges are getting a lot of attention this year.