1
They would like another $25 billion later to reduce retiree health-care costs.
2
They needed a way to reduce retiree costs.
3
To improve, pension funds either need to earn better-than-expected returns in the future, request higher contributions from workers or reduce retiree benefits.
4
To improve, pension funds either need to earn better-than-expected returns in the future, request higher contributions from current workers, or reduce retiree benefits.
5
It would reduce retirees' benefits and raise the retirement age to save the state nearly $145 billion over 30 years.