Thursday, October 4, 2012

PENSION CRISIS: Municipalities wait their turn

PENSION CRISIS: Municipalities wait their turn | Central Penn Business Journal: ""Something needs to be done. We all know the legacy costs," said Eric Montarti, senior policy analyst for the Pittsburgh-based Allegheny Institute for Public Policy. "How do we get from identifying the problem and coming up with a solution to churning through the legislative process?" New to the debate is a proposal from the state's auditor general to consolidate municipal pension plans. The debt Excluding Philadelphia, Pennsylvania's roughly 1,400 municipal pension plans have a little more than $2 billion in combined unfunded liabilities, according to the state Public Employment Retirement Commission, which tracks the progress of local and state pension plans."

Ever think of abolishing public pensions altogether?

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