I can see why you don’t like my view --- it suggests pension plans shouldn’t be the secure super-contracts teachers have long assumed they are – but I don’t see why you find it morally and ethically objectionable. Most of us face less than certain futures and must deal with changing circumstances – suddenly higher taxes, for example, foisted on us by politicians whose lives have become a Hitchcockian nightmare of chickens coming home to roost.
In theory, public pension systems are a fine idea. In practice, they’ve inspired politicians to saddle their successors and taxpayers of the future with additional burdens and investment risk, paying for today’s goodies with tomorrow’s money (or, in the case of suburban school districts and municipalities, other people’s money). Teachers unions have showered these same profligate pols with millions in contributions.