Saving pension

Over the past 50 years, defined pension plans have moved to 401 K plans, with the exception of state and local government plans which are now underfunded. States have promised benefits to employees which they are not able to fulfill. Nancy Pelosi has recently proposed a part four to aid in the virus recovery and it includes money to fund public pensions. States like Illinois which are $140 billion dollars underfunded may never get out from under this debt without federal help. Many feel that infrastructure spending would help the country better than pension funding. Some see pension spending is a handout and infrastructure spending is a hand up.