alt Hacker NewsI see parallels between water rights "xxx acre feet per year" without regard for how much water is incoming, and pension funds where they simply declare how much will be paid out.
I really can't tell the difference between people being uncaring or just stupid about either.
The whole pension fund concept only works because it declares how much is going to be paid out.
Who’s going to pay in if the fund expects a guaranteed commitment but refuses to give such in return?