It was six in the morning of Oct. 26 and two busloads of motivated Chicago teachers and friends were on their way to Springfield to rally and lobby to protect their pensions.
Public employee pension plans are actually far more cost effective than defined contribution, the 401k-style plans fashionable in the private sector.
Must public pension funds prove they lost money before they can sue as a class against the corporations involved? That's the problem the Supreme Court wrestled with, in a case that pitted a non-profit foundation against former GOP Vice President Dick Cheney's old company, Halliburton.
As the Florida state Senate tries to balance the budget by stripping teachers of pay and the incentive to teach in Florida, they are now going after retirees and pension plans.