when cities face hard financial times, pension liabilities are often the first to go underfunded /

American cities have to pay for a lot of things: police and other safety services,roads, infrastructure and public buildings. But they are also responsible for the pensions of former city employees. In fresh research, or Evgenia Gorina finds that when cities have less stable revenues and a greater reliance on payments from their domestic state,their pension liabilities are more […]

Source: feedburner.com