We understand PERS negotiated impacts now.  But let's go back to how it all started.  In the last few years of last Century, public employees needed wage increases as theirs were flat.  Even with low rates of inflation, they lost ground.  Our past state leaders kicked the can down the road.  Given a choice between "Pay Me Now" (which came out of current budgets) or "Pay Me Later" - they chose later.  PERS eligible employees agreed and a contract was signed.  I watched in horror and asked, "Don't our legislators understand compounding"?  

But in the go go 90's, where 10% was a low return on your portfolio and savings accounts still paid 5% interest, what could change.  Now the can is the size of Everest and you can hit it with a bomb and nothing happens.

So whose contract do you plan to break - and if you do who can negotiate anything with the state?   Perhaps we need Presidential leadership on this.  I can see him personally convening death panels.