A recent survey by the Center for Retirement Research at Boston College finds retirement benefits to state employees and retirees may not be as certain as some would think/argue. According to the researchers, many details can be legally challenged in favor of the state/employer since employment contract terms are often used generally as opposed to being clearly defined.
More info can be found here: http://www.benefitspro.com/2012/08/15/states-have-plenty-of-room-to-legally-alter-pensio?ref=hp
The information in this material is only as current as the date indicted, and may be superseded by subsequent market events or for other reasons. Statements concerning financial market trends are based on current market conditions, which are subject to change and which Payne Wealth Partners, Inc. does not undertake to update. While all information prepared in this document is believed to be accurate, any statements of opinion constitute only current opinions of Payne Wealth Partners, Inc., which are subject to change and which Payne Wealth Partners, Inc. does not undertake to update. Accordingly, you should not put undue reliance on these statements.