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War on Pensions Moves to New Target: Those Already Retired
Chicago Sun-Times; free registration may be required Link to more items from this source
July 1, 2012
"[A] few years ago, ... the very idea that a state or municipality could change pension contribution requirements -- in the middle of an employee's career -- was shocking.... Now we're about to see the next level of state and municipal pension warfare: changes in benefits for those already retired.... The Pension Benefit Guaranty Corporation guarantees corporate pensions -- up to a limit.... But the PBGC does not guarantee state or municipal pension plans! And that's the crux of the state and municipal pension wars. State taxpayers have to come up with the money to fund the pensions -- at the expense of other state expenditures for things like education, social services, and infrastructure."

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