Supposedly safe public pensions ... oh boy.

In the bad old days, unethical board members "helped themselves" to their employee's pension funds - as loans, of course - often draining them completely before the company tanked.

Can't happen now, you think? Oh boy.
http://www.greaterfool.ca/2017/04/27/conflicted/

If you are pre-retirement, you *must* put your own money away to work for you in retirement. Nothing is safe or sacred. Winning lawsuits after the fact won't actually get you your pension back.

As Detritus said: "Bad bad bad. Even worse."