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Theodore Cangero

Trouble Ahead: Unfunded Liabilities in State Pension Funds

Since the Great Recession, large federal budget deficits and a record level of government debt have dominated the headlines. But municipal and state finances have also come under stress in recent years. On the municipal side, Detroit declared bankruptcy and restructured public pensions. In Dallas, the police and firefighters’ pension fund is broke. Stockton and […]

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