said by PaulHikeS2:
That's just their nature. All Ponzi schemes work fine for a while.
Yes, as Wall St. Is finding out.
For pensions to be a Ponzi scheme, the new employees would be paying the pensions of the retirees and would require a constantly increasing number of workers... that doesn't happen. The company (or government) pays the pensions as part of the retirees' salary which has been deferred and numbers of workers (in general and federally) is going down, not up.