Basically there are 3 groups of PERA stakeholders - employers, employees and retirees.  The PERA trust fund is in trouble for 3 main reasons - PERA members are living longer, economic stagnation as far as the eye can see, and legislative meddling and mismanagement.  There is a matter of fairness here, as I'll try to explain.  It is fair that employees pay more to make up for demographic change, or increased life spans.  It is fair that retirees give back some of their COLA to make up for a changing, slower growing economy.  It is also fair that employers (i.e., taxpayers) contribute more to help mitigate legislative mismanagement.  I and many others who have charted PERA's course over the years can cite many examples of mismanagement.

So, as I have outlined above, fairness dictates that all three parties contribute towards funding PERA's unfunded liability.  Employees should contribute more due to demographic change, retirees due to economic change, and employers due to mismanagement.