This is a non sequitur. The public employee is not "saving" at all. It is simply an open ended promise that future taxpayers will foot the bill. Aargh.
If the employee wants a "defined" benefit, he should buy an annuity. Those are fixed. And yes, that option would suck for the govt. employee compared to the huge pensions many of them now have.
Just what do you think a DB plan is? It is a massive annuity with all the same calculations.
In the garage working on the boat in Utah, United States
I'm fine with a public pension. I have a problem with the conflict of interest between the public unions and government lawmakers, the same people that are receiving donations from those they negotiate with. Therein is the problem!!! Public unions should be disbanded, period!!! If a private company were to take money from the same people they were negotiating with like the politicians (predominantly democrats BTW) they would be held on bribery charges!!!