[Mike Darancette]

How can this be possible? Simple. The pension plan is the direct result of deferred compensation- money that employees would have been paid as cash salary but choose, instead, to have placed in the state operated pension fund where the money can be professionally invested (at a lower cost of management) for the future.

So then pay the employees their full salary and no health care contribution and no defied benefit retirement. Give the employees the current values of their retirement funds up to the limit of funds available to be sure but no future liability. Then layoff and rehire employees as the economy dictates.

If this "expert" is correct then this should be agreeable to all parties.

[Carling]

Forbes is either swamped right now or has shut down their site. Rick Ungar is a fool who has no business writing about this topic, or any topic relating to business or politics.