Defined-benefit pensions have largely disappeared from the private sector, and yet people are still clamoring for those jobs.

So why are we still struggling to sustain public employee pensions?

Across the country, at every level of government, it has become obvious that the American public has promised more lifelong security to its servants than it can afford. In theory, government workers simply collect as pension benefits the money they paid in during their careers; investment gains smooth any bumps. But it’s not working out that way.

Just last week, as reported by the Associated Press, “California’s largest public employee pension cut $170 million from the amount the state must pay in the next year toward retirement benefits” as that state grapples with backbreaking budget problems. Even with this cut, the state will kick in $3.5 billion for the 2011-12 fiscal year.

That seems to answer the argument that the public pays nothing for public employee pensions. A Forbes magazine piece recently contended: “The pension plan is the direct result of deferred compensation – money that employees would have been paid as cash salary but choose, instead, to have placed in the state-operated pension fund where the money can be professionally invested for the future.”

If only that always held true.

The Forbes writer goes on to admit that sometimes funds come up short, putting taxpayers on the hook, and whines, “But is this the fault of the state employees?”

Assigning blame is a luxury we can’t afford. We need to deal with what’s reasonable and sustainable.

It’s accurate to say that public employees contribute part of their pay to their pension plans. To move forward, we don’t even have to get into the question about whether their pay and raises are justifiable.

All we have to do is eliminate the defined-benefit pensions and let the workers handle their own investments. It can be a wild ride, public workers. But you’ll get used to it.