...the whole "private pension fund mindset" is predicated on the argument that public pensions are insolvent because they will eventually be unable to pay the promised premiums.

Adding that whatever gains accrue in private pension funds invested in financial markets will be less the very substantial costs extracted from those gains by the private entities doing the investment, the expected rate of return for which is 15-20%. Surely the proponents of privatized retirements do not imagine that the private sector will be performing this service out of altruism!

"It is not necessary to have hope in order to persevere."