14 pages. "If governments' pension costs had stayed flat, relative to general revenues, since 2008, the state and local workforce would now likely total ... about 200,000 more than their current level.... Public pension costs are not rising because benefits are becoming more generous. The problem is the trillions in existing benefit promises that are not backed by assets on hand ... [In] the near term, the challenge for states and cities involves funding benefits that have already been promised: pension reform, by most any definition, will therefore not bring stability to government budgets or workforces."  MORE >>