I think Mr. Johnson hits the TIP of the iceberg.
A lot of School Teachers' pensions were invested in funds tied to Energy Interests like Fracking.
The diminished price of a barrel of oil coupled with the increasing costs of Fracking (which don't yield much in the way of profit when Oil prices are so low) have diminished the value of these collective funds.
When Eastern Airlines went out of business, flight attendants lost their pensions overnight. Oftentimes, one company will merge with another and the merger annihilates the former agreement... often taking the PROMISE of pension money along.
How about the Republican ruse to make sure that all Postal Workers' pensions are covered into the next decade when that demand is not placed on any other business or government-run entity?
Massive graft, corruption, and fiscal False Witness are what RUNS today's global economy and as MANY have pointed out, the gap between actual collateral and paper assets is wider than the distance between the sun and the moon.