The massive underfunded pension funds of states and municipalities and the precarious status of the budgets of these entities have received wide publicity recently.

How in the world might a transportation bill feed our retirement crisis? Congress is sneaking a harmful pension change that could lead to massive underfunding of our largest plans

Many public workers are overpaid relative to their private sector counterparts, especially in large, unionized states such as Wisconsin, Ohio and California. This may sound like a controversial claim, but it shouldn't. A consensus is building about the need for reform.

Prohibiting their bond trading will seriously weaken banks and the markets that banks supply with liquidity.

Pension-fund trustees have a fiduciary responsibility to maximize investment returns and should not be bound by "socially responsible investing."

Every serious study of U.S. infrastructure has reached the same conclusion: More investment is needed -- and fast. But with Sen. Jeff Bingaman's amendment to the highway reauthorization bill, the Senate effectively penalizes states for using innovative infrastructure financing.

A panel of retirement experts and public policy economists will address the growing threats to the pension liabilities of states and municipalities.

The American economy has been a wonder because we have constrained capricious government intervention into private enterprise. State pension funds are messing with our formula for success.