Is there a secret plan to have states default on their public employee pensions? « Fred Klonsky's blog

Is there a secret plan to have states default on their public employee pensions? « Fred Klonsky's blog

Is there a secret plan to have state’s default on their public employee pensions?

by Fred Klonsky

I’m 62 years old. I plan to retire in June of 2012. Although I am fully vested in Social Security, as a teacher I am prevented by federal law from collecting it when I retire. My only guaranteed pension is the Teacher Retirement System into which I am paying 10% of my salary.

So imagine the feeling in my stomach while I was drinking my coffee this morning when I read this in the NY Times:

Policy makers are working behind the scenes to come up with a way to let states