April 5, 2010

"The pending crisis for public pensions"

Radio Times, April 5, 2010: "There's a crisis brewing over public pensions – those retirement funds promised to government employees like teachers, policemen, firemen and state workers. In most states, including Pennsylvania, there simply may not be enough money in the till to pay these retirees what they’ve been promised. According to a recent study published by the Pew Center on the States, some of it has to do with the recession and investment losses, but most of it is the fault of policy decisions that resulted in severe under-funding of pension plans. Harrisburg AP reporter Mark Scolforo and Kil Huh, author of the Pew Center report, who will put it all into a national context."