Here is a summary of key areas in the fight to prevent state and local public employee pensions from bankrupting governments. Detroit. Judge Stephen Rhodes will rule today at 10:00 a.m. (EST) on whether the city is eligible to enter bankruptcy. From the LATimes. Most legal experts expect Rhodes to declare that Detroit is eligible for bankruptcy protection. A ruling …
When Pension Reform Goes Bipartisan
Eventually the mathematical results of under-funding ever more generous pension benefits for state and local employees becomes a problem for Democrats too. Illinois legislators are expected to vote this week on pension reform that would pare back pension benefits in three important ways. Reducing cost of living increases. Increases retirement age. Capping the salary amount available for pension calculations. There …
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