How in the world can pension plans be broke?
politicians are bribed by unions They approve retirements over and above projected revenue.
Thee phony up the projections like CALPers in Cal. Let’s say we project an increase of 8% annually in the invested funds and it;’s comes in at 2.9. The pension is already loved into the employee contracts. Cal has done this more than once. They liter justify and the public doesn’t pay attention. The unions are stronger than the public because they bribe them.