Pension Troubles Not Limited to the States

This Sunday I was on C-SPAN’s National Journal discussing the nation’s pensions crisis. Highlighted in the discussion is the most recent study by Robert Novy-Marx of the University of Illinois Rochester and Joshua Rauh of Northwestern University which assesses the liabilities of municipal pension plans. As Forbes reports, the implications for some cities are devastating. Chicago residents face a liability of $71,000 per household.

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