There's a point that I didn't make clearly earlier.
Since public employees negotiate their compensation, and that compensation includes salary and benefits, all of the money in the pensions is the employees’ money. Not only because it is contractually owed to them, but because if it hadn’t gone into the pension fund it would have gone to the employees in their paychecks.
It isn’t state money or state support any more than the money in their weekly paycheck is. It's compensation. It is the employees’ money.
Except of course in New Jersey where the State just keeps the money for itself.
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