[quote=harvey]
I’m not really following what you are saying about risk here. You do understand pensions are invested in the stock market also? They also carry risk. That’s the primary reason we have a public-sector pension crisis.
[/quote]
Why yes, of course you’re right. The primary reason for the percieved pension crisis has little do to with over-compensated public employees. It’s not out of control benefits. It’s not greedy public employees stealing from the public.
It’s the once a century crash of the financial markets. Save for that, there wouldn’t be a peep about under-funded retirement plans. Nobody would be talking about slashing retirement benefits.
Interesting that after all this vitriolic back and forth, you’ve come full circle to the same conclusion that at least a handful of us have suggested was the real crisis with public pensions many months ago.
