Summary: State and municipal government leaders across the country are coming face-to-face with a reality they - and the public employees they work with - have long sought to delay. Public pension obligations - for teachers, police officers, firefighters and other civil servants are beginning to break the bank. Pension plans that provide unlimited health care, set benefits for life and the option to retire at an early age are no longer sustainable as the work force shrinks along with budgets. How can local and state government leaders provide benefits that were promised to current retirees while cutting pension promises to current workers?
