December 7, 2008

MORE ON THOSE OVERGENEROUS / UNDERFUNDED PUBLIC PENSION PLANS: Pittsburgh retirement plan’s value has decreased $124 million this year. “That leaves the fund with just 29 percent of what it should ideally hold to cover its long-term commitments, according to state standards.”

Meanwhile, look at the situation in California. It’s gotten so bad that some people are even suggesting that public employees will have to share the pain.

(Via PensionWatch).

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