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URL:  http://boards.fool.com/that-opens-the-municipality-to-future-30769292.aspx

Subject:  Re: Proposal to end public pensions Date:  7/10/2013  12:03 PM
Author:  steve203 Number:  428364 of 455603

...that opens the municipality to future liability of unpaid benefits if the purchased policy fails to deliver for ANY reason.

Nope. That liability has been "tort reformed" away.

Pension Protection Act of 2006

Established safe harbor investments, also known as Qualified Default Investment Alternatives, to protect employers from liability of losses suffered by automatically enrolled employees


http://en.wikipedia.org/wiki/Pension_Protection_Act_of_2006

Steve
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