12/17/2013 – Don’t blame pensions for cities’ woes: New study (CNBC)

Dec 18, 2013 No Comments by

Detroit’s recent high-profile trip to bankruptcy court—allowing it to break decades of costly pension promises—has prompted other city officials to blame “legacy” retiree benefit costs for their dire financial conditions.

But pension costs have played only a minor role in the current financial plight of the dozens of U.S. cities that find themselves unable to make ends meet, according to a report Tuesday from the Center for Retirement Research.

Read the full article at CNBC.

Financial -Landing 2013

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