While America aged

This book does a very good job on the genesis of and the resultant problems from the pension system which many companies and governments in this country maintained. The bottom line is that none of the three pension sponsors (and by extension, probably most pension sponsors) understood or cared to understand the ramifications of their promises.

I agree with one review of the book which said that Lowenstein's diagnosis of the problems are spot on. However, his proposed solution seems to reinforce the mistakes he noticed when corporations and local politicians made when creating and modifying their pension systems.

Having said that, it is an excellent review of the pension problems and the ways different parties have created these problems which are looming shortly on the horizon.