Although you admit that Gov. Jerry Brown's pension reforms will save billions, your analysis supports going much further because of "runaway" pension costs. But the numbers that your experts cite are vastly exaggerated. They reject public pension accounting standards and are instead based on "market values," what a fund would get if all its assets were immediately sold — which no fund would or could do.
Others advocate reducing assumptions to discount bank rates. But that would increase unfunded liabilities until employers go bankrupt — which may be the point. Then the financial services industry could replace pensions with 401(k) plans and rake in exorbitant fees. Meanwhile, ordinary Californians face the prospect of retiring into poverty or working until they die.
Your analysis simply encourages a race to the bottom. Pensions work. They are fair, and more people should have access to them.