Yeah, it's baffling that people don't seem to think that there are actuaries whose entire job is to ensure that these pensions remain solvent and properly funded given the expected lifespan of the members. The ratio of teachers currently working to the # that are retired is basically meaningless when over 1/4 of their gross salary is going into pension contributions. 30 years of that level of contributions can easily fund the retirement benefits they'll receive.
|