More pension bad news. This time for locals - Orange Punch : The Orange County Register
"There really are only a few options: cut benefits, increase contributions or go belly up when the bills come due.
Since going belly up is the one option that is easiest because no one has to do anything for that to happen, that’s pretty much the path most government policymakers have opted for, with a few modest exceptions as outlined in the Pew study, which is the subject of our editorial today."
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