Pension funds shift to Bonds- Is it permanent?

I am a fan of the Bloomberg Chart of the day.  Last week they had a most interesting one that showed the percentage of stocks in pension plans has dropped 12% since 2007, to 46%, while Bonds have risen from 32% to 42% in the same time.  Since a major portion of the stock market is comprised of largepublic  pension plans, the authors believe this to be a fairly permanent shift, despite the low returns being paid by debt these days.

–  Reeve Conover