“There has unfortunately been some confusion in the media on this point.”

Comment: “Some confusion on this point” is a monumental understatement. Most aspects of public defined benefit pensions are far too confusing for anybody to understand, and this is just a tiny example. They are fundamentally incompatible with any hope for transparent government and sound fiscal management.

via Chicago Area Governments Prohibited from Improving Pension Funding Without State Intervention | The Civic Federation.