Even though we're already 3 decades into blatantly clear evidence that the economics of pensions destroy both company and municipality alike (especially in high-paying, high-tax US markets where pensioners draw their pension but relocate to low-tax/no-tax states to live their life and spend it), we're facing real declining birth rates on the horizon which are making that even more true. The State of New Jersey, despite proximity to NYC and all of the income that brings has been financially on the brink of collapse due to pensions since the 70s.

It would be wise of you to listen to the Swedes and Norwegians when they complain. They have some of the most funded and legally-guaranteed pensions in the world while economically times are becoming tougher and tougher for their citizens.

Especially for the Norwegians it's looking like pensions can't even cover basic living expenses Norwegians face _THIS YEAR_ and that's on the back of fantastic oil wealth.