"If there ever were a time for reforming public-employee pension systems in Orange County, now is that time. There is momentum, there is opportunity, and there is renewed reason for urgency.... [T]he county's services and programs for [Orange County] residents may be cut if effective action is not taken. Given that the county's annual budget is $5.6 billion, the $4.4 billion in unfunded pension promises is nearly 80 percent of an entire year's spending."  MORE >>