TFA says precisely that and mentions public pension plans as a more secure option. In fact, he phrases his statement to imply that he believes the "bait and switch" approach to pensions is inevitable in the private market.

> Public service is the only environment where defined benefit pensions will remain fully funded.

I don't think this will be true long term. The pensions agreed to are actually unfundable and eventually something will be done about it.

I'm talking about the public employees in Detroit today, not the auto workers. Detroit is bankrupt; they will get 10-20% of their benefits at most.