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| Underfunded Pensions: Tackling an 'Invisible' Crisis The Wharton School of The University of Pennsylvania  Jan. 27, 2015 "Wharton finance professor Robert Inman ... noted, for example, that Chicago's unfunded liabilities are 10 times its revenues. 'Just assume that they're going to have to pay 5% of that [number annually]. That means you're looking at 50% of their cash that will have go to pensions.' Philadelphia, Boston, New York, Houston and other major cities will face similar challenges." |
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