“So, Moody’s doesn’t care that they’re taking out the savings for General Funds spending up front rather than leaving it in the pension systems? This seems kinda odd.”  The article also quotes the Moody’s report, which includes “The state’s new legislation aims to navigate around the constitutional constraint by using voluntary buyouts. … The state’s forecast is based on assumed acceptance rates of 25% for retiring members and 22% for the vested but inactive participants. As a result, the state faces a risk that the plan will either increase its underfunding of pension contributions or add to a backlog of unpaid bills.”