John Douglas,
I recently posted a mathematical demonstration that for a Private Sector worker (lucky enough to be one of the small number that still have Traditional-style final-average-salary DB pension Plans), to get the same pension (at the same age and with the same years of service) as the TYPICAL California Safety worker retiring with a salary of about $111K, he/she would like need a salary greater than $500K.
While CA Safety worker pensions are near the highest in the nation, similar calculations for Public Sector workers with more typical pensions ALWAYS show pensions that their are multiples greater in value in value at retirement. Clearly, the ROOT CAUSE of the problem is excessive Public Sector pension generosity, with funding difficulties arising from that excessive generosity
And while I agree that to "welch on the promises made" is normally a bad idea, if those promises were made with nobody at the bargaining table rightfully looking out for Taxpayer interests, and with the two sides (the Public Sector Unions and our elected officials or their representative) acting in collusion by trading campaign contributions and election support in exchange for favorable votes on pay, pensions, and benefits, then yes, welching on SUCH promises is both necessary and the right thing to do.
You can find my referenced demonstration in the comments to this article: