Kentucky’s pension reform lite in 2008 hasn’t gotten the ridicule it deserved, though some of us have tried.
New Jersey pulled a similar trick last year and the latest available analysis indicates it wasn’t worth the effort. At least one writer there is having a little bit of fun with the unfunny mess. NJ.com’s John Bury said:
The lesson Frankfort will probably take out of this is to not do an actuarial report on the effects of last year’s “reform” effort.