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How Public Pension Promises Are Draining State and City Budgets
BusinessWeek Online Link to more items from this source
June 29, 2006
Excerpt: As much as states are throwing into pensions, they may owe even more. Despite a 2004 stock market rise that should narrow some of the gap, pension experts at Barclays Global Investors (BCS ) say that if public plans calculated their obligations using the more conservative math that private funds do, they would not be $278 billion under, but more than $700 billion in the red.

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