[quote=FlyerInHi]CAr, what you say is so irrelevant.
You can calculate an amount today that equates to a stream of future payments. The only reason that pension funds are underfunded is because past and present contributions are too low in relation to future promises.
Depending on the amount, I would theoretically be indifferent between a DB or a DC plan. If they raise my salary enough, I’d be willing to give up any kind of future benefits.
There is a shifting of risk. But you have to pay for the risk.[/quote]
They do pay for the risk. Most public employees have taken lower pay and other benefits in return for these pensions. Again, contribution rates absolutely do need to go up and, IMHO, benefit formulas need to be reduced (and there are many *fair and legal* ways to do this).
