Ironically, the government of Michigan, the home state of Detroit, is a leader in addressing pension problems. … One way to address the underfunding problem would be for governments to stop offering retirement benefits that allow them to kick the costs of today’s workforce onto tomorrow’s taxpayers. … Whether it is in Michigan or Maryland, pension reform is hard for politicians. There are too few political incentives to producing a well-funded pension system.
Read the full article on: The Washington Post