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Public Pension Deficits Get Renewed Scrutiny Due to Detroit Bankruptcy Filing
Bloomberg July 24, 2013
"Chicago, Philadelphia, New York, Phoenix and Jacksonville, Florida, are among large cities that had 60 percent or less of what they need in their retirement systems to cover promised benefits ... At least 29 public plans in 16 states are less than two-thirds funded ... Concern that localities aren't doing enough to ensure pensions and related benefits are funded has led munis to weaken compared with Treasuries[.]"
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