The Wall Street Journal: Pension Funding Gap Widens For Big Cities
Major U.S. cities emerged from the financial crisis with increasingly underfunded pension and retiree health-care plans, according to a study released Tuesday. Cities employing nearly half of U.S. municipal workers saw their pension and retiree health-care funding levels fall from 79% in fiscal year 2007 to 74% in fiscal year 2009, using the latest available data, according to the Pew Center on the States (Ackerman, 1/15).
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