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California Judge Rules That There's Nothing Sacred About Pension Promises
Money Link to more items from this source
[Opinion]
Oct. 19, 2014
"The Stockton ruling is a harsh reminder of how frail the retirement system in the U.S. has become. Scores of both private and public pensions are underfunded, and Social Security is scheduled to become insolvent in 2033. The system is not going to disappear. But change will come and almost certainly result in benefit cuts for some."

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