The legislature UNANIMOUSLY passed a bill to require employers to pay the actuarial required contributions (ARC), which then Gov Bill Owens vetoed.  This single act was shortsighted and was more devastating to the PERA trust fund than any other contributing factor, including the service credit fire sale, wage spiking and the 401k match.  I believe PERA would be over 80% funded right now if Owens was never in the governorship.  Also, the 3-year HAS and a full year of service credit for less than full time work were always way too generous features which should have been reformed years ago.