With Labor Day just reminding us of the value we place on our country’s workforce and providing an opportunity to show our gratitude to the public employees who help and serve us every day, it’s time to put aside the misdirected concern over defined-benefit pension plans. Instead, let’s recognize the steady and reliable benefits of these plans when they are properly maintained, as is the case with our city plans.
There is a common misperception that all public-pension plans are in a financial crisis. A great deal of this misperception stems from the narrow pool of high-visibility state and local pension funds that are underfunded.
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