a. One explanation for the underfunding of the defined-benefit plan is that the economy was weak recently, and financial markets were weak, and this was the cause of the underfunding. If so, the underfunding may not be a problem in the future. Do you think this explanation is sufficient, such that there is no need to search for an alternative solution. Explain.

b. One possible solution is for the state's defined-benefit plan to be converted into a defined-contribution plan. Explain why this could be a viable solution to the problem.