"The state and local government pensions I'm familiar with should actually be safer than most pension systems" Considering the fact that many defined benefit p

"The state and local government pensions I'm familiar with should actually be safer than most pension systems" Considering the fact that many defined benefit programs look about as safe as ticking time bombs, this doesn't particularly reassure me. In addition, there is the problem of actuarial assumptions. I remember a New York state actuary getting in trouble because he was being paid by the state labor unions earlier this year and came across this article while I was trying refresh my memory of the details: http://www.iht.com/articles/2008/05/21/business/pension.php http://www.iht.com/articles/2008/05/21/business/pension.php