http://www.nytimes.com/2011/01/04/bu...e&ref=business
It's hard to believe that State and Federal Governments still have pension plans. Much of the private sector got out of them due to high costs. I took a job in 2006 with a company who boasted about its fully funded pension plan. 6 months into the job, they did what everyone else did - cashed out and went to a 401k plan.
