First off CERS has some of the same problems as KERS but cities not putting in the amounts mandated by the pension system wasn't one of them. The Governors and legislature started shorting KERS many years before Fletcher became Governor. That's how they balanced the state budget for decades. The other problem, which CERS shares, is that pension fund appointees hired bad investment companies who put the state into a collection of high risk, high fee investments instead of just putting it in an index