Has Pension Reform Gone Too Far?

Source: Liz Farmer, Governing, View blog, April 19, 2013

Nearly every state in the union and scores of localities have reacted in recent years to their growing unfunded public pension liabilities with reforms that aim to soften that financial burden in the coming decades. The changes have ranged from reducing benefits for current retirees to raising the retirement age to establishing new (read: cheaper) plans for incoming public employees.

But have some of these reforms gone too far? Might governments now be putting themselves in a position where they can no longer attract the best person for the job?…