Public Pensions And Public Trust – Forbes

Pension actuary: "The example of Illinois and Chicago make me very dubious that we can rely on states to follow through on whatever commitments they make with respect to funding their pension promises from year to year. Whether that's by simply not making required contributions, or developing delusionally-optimistic contribution schedules, the temptation is simply too great to borrow from future generations in ways that are hidden and conform, on paper, to balanced-budget requirements."