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Moody's New Pension Rules Would Bankrupt Six California Counties
Fox & Hounds Blog 
Jan. 17, 2013 "Catch-up pension payments will have to increase in the six counties by 192 percent. And existing aggregate pension bond payments will have to be increased by a total of $177 million total in the six affected counties to avoid insolvency. As Dickerson states, this will result in consuming 98 percent of all the property taxes in the six counties for pensions only" MORE >> |
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