Something, something, defined benefit, it seems.
I had no idea defined benefit pensions were still a thing.
I had no idea defined benefit pensions were still a thing.
So it's going to be a long time before all those people, both retired and not, are dead.
Plus the public sector in the UK still offers them.
US States cannot go bankrupt (They are not only not covered by bankruptcy law, but there is a reasonably strong argument that state bankruptcy would violate the contracts clause. (And the public entities that can go bankrupt via municipal bankruptcy in US law do not legally dissolve when they do.)
> This is why I expect a federal UBI.
That seems…unrelated.
For some reason when they realised they were a bad idea they got rid of them for everyone else but themselves.