>>the obligation has increased while the amount put in did not and interest rates dropped

You don't need a PhD in math to figure that one - it's a disaster.
Christie has started a campaign against "outrageously high pensions" and cutting pensions is on the table here.
Meanwhile, he cruises around in a private jet.
On a federal level, the last finance bill quietly emasculated provisions guaranteeing employee pensions, with cooperation from the dems and Obama.

It's a national disgrace and yet another example of wealthy people (politicians supported by oligarchs) making decisions about the lives of people who are not wealthy.