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Pension Plans May Swamp Public Funds
New York AP report warns public pension plans threaten city and state budgets with rising costs, longer retirements, and underfunded liabilities. Officials note pay as you go funding, union pressure, and longer life spans push obligations higher. Legislative sessions possible reforms include changing formulas and scaling benefits.
MENTIONED IN THIS ARTICLE
New York
Penn
New York City
Act
Los Angeles
Dan M. McGill
University of Panacelvania
Victor Gotbaum
American Federation of State
Gotbaum
General Motors
Robert
Tuarial Firma
Martin E. Segal
Detroit
Philadelphia
Illinois
McGill
Manhattan