The pension bloat


Lost amid the politics of legislatures everywhere grappling with lower revenue is the reality of what runaway pensions will do to a city or a state in a declining economy. May I direct your attention to this link which shows precisely what the citizens of Illinois face with the pension liability of just their top 100 public school administrators. Does the word "unsustainable" come to mind?

The task for all states and cities will be to come to grips with this problem and fix it with the least amount of turmoil to individuals involved and to the services provided. The only option off the table, it seems to me, is the option to do nothing.

 

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