By Steven Greenhut, includes "...One might argue that it's great to reward investment officials for bringing in banner returns that keep the pension funds and taxpayers out of hot water. But there are two problems with that argument. ... Yet instead of dealing with these problems, the pension funds are partying like it's 1999, when soaring investment earnings promised to usher in decades of 'cost-free' benefits for the public-employee unions who control the pension funds and the Legislature."