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Three Myths and a Fact about Public Pension Systems
LPL Financial 
[Opinion] Apr. 17, 2012
"Myth 1: Public pension systems are about to run out of money.... Myth 2: A few good years in a bull market will bring the fund back to health.... Myth 3: Since the states are going to dramatically increase their contributions over the next few years, this should take care of the underfunding problem, as happened in the 1980's.... Which leads us to a cold hard fact: the fix which worked in the past is unlikely to succeed in the future. Putting public pension systems on firm footing is going to require significant and unpopular changes to current policy."
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