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Compass
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State and Local Government Pension Reformers Shift Focus to Current Employees
Governing [Opinion] Mar. 18, 2011 Reform for current employees is unavoidable and necessary. Authors and analysts for both the California and Pennsylvania reports have come to the conclusion long held in my columns: The stock market alone cannot save today's pension funds from the $800 billion in underfunding problems that they have accumulated from overly generous benefits increases, a decade of stock-market underperformance, and employer underfunding. |
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