Jacques, Re your item "b" .....

While I am not familiar with the rules that govern pension plan changes in Canada, in the USA, Private Sector pensions are regulated via ERISA, the 2006 PPA, etc. and it is both legal and quite commonplace for Private Sector Plan sponsors to lower the FUTURE Service pension accrual rate, or even freeze the Plan completely.

With the direct contributions from Public Sector Pension Plan participants (INCLUDING all the investment earnings thereon) rarely paying for more than 10-20% of the Total Cost of their VERY generous promised pensions ... leaving the 80-90% balance the "responsibility" of the Taxpayers (even though they have been quite tardy in putting up the funds to do so) ..... what justifies not only the MUCH more generous pensions (AND benefits), but also FAR FAR greater protections from change?

Now, I'm not saying that such FUTURE Service reductions will be easy, and I'm well aware that the ability (and avenues) to do so vary greatly from State to State. What I AM saying is that FAIRNESS to the Taxpayers does indeed make such FUTURE Service reductions a very appropriate place to look for the VERY much needed pension reform. In fact, I venture to say that reductions only applicable to NEW workers will be "to little, too late" to head off the growing list of municipal bankruptcies teetering on the horizon.