The false promise of public pensions

Examines problems with public pensions, asserting that the challenge comprises politics as much as technical questions. After a brief look at government regulation of pensions, two dynamics dominating the politics of public pensions are identified. Teacher pensions & NJ's experience serve to illustrate. Attention is then given to the prospect of pension reform, citing GA's model as one worth emulating along with the success of the Defense Base Closure & Realignment Commission. Adapted from the source document.