Rhee, who reviewed a copy of the rankings ahead of their release, said it was difficult to compare defined contribution and hybrid plans alongside pension plans without calculating the likely salary replacement rates under all three plans.

Raising the wage floor to $15 would also have a lasting impact on major U.S. public safety net programs, according to a January 2021 study from the UC Berkeley Labor Center. Nearly half (47%) of the families who would receive a direct pay bump are enrolled in programs like Medicaid and the Supplemental Nutrition Assistance Program (SNAP). Raising the minimum wage to $15 would ease the financial burden of those programs, the study says.