[RFEngineer]

“State and local government pensions have no relationship whatsoever with the federal government system. “

They do have one thing in common. They won’t be paid in the manner that you expect, as they are not affordable to the productive taxpayer.

[muawiyah]

Alas, the federal pensions are essentially "paid for" by the employees as a group. The law actually requires agencies to "budget" and then "transfer" funds in a requisite amount to OPM for investment what amount to t-bills to cover later retirees.

The state and local systems are mostly promises.

It's not just that the federales can print money to cover the problem, it is also the case that they pay up front.

It's Congress, not the employees in the federal government, who spend your tax dollars like drunken sailers.

If the federal government as a whole were required to be as conscientious with all of its financial responsibilities as OPM is required to be with employee retirement funds the US government would be running surpluses.