City Pensions Running Out of Money; Cities Facing Bankruptcy

The NEXT 10 City Pensions That Will Run Out Of Money

Gus Lubin Business Insider 12/27/2010

The first total municipal pension default happened last week: Prichard, Ala. ran out of money stopped mailing pension checks.

Hundreds of cities could be right behind. Projections by Robert Novy-Marx and Joshua Rauh [PDF] show the average city has […]