Broadcast Retirement Network's Jeffrey Snyder and R Street Institute's Chris McIsaac discuss pension reforms following the 2008 financial crisis. The reforms were implemented to shore up the funds and provide relief to state and local budgets. They included increased contribution rates, reforms to the actual benefit design for future public workers, and more conservative assumptions about investment returns to prevent future losses. Despite these reforms, the funds have not recovered to the points they were at before the Great Recession hit. However, they are now on a good trajectory of continued improvements in funded levels. This is seen as a significant risk to the health of the funds moving forward, with some lawmakers considering rolling back some reforms in the 2010-2012 period.