This New York Times article talks about the steps many states are taking to pare down their pension costs, including in the case of Colorado, even cutting back on benefits for current retirees.

“We’re within a few years of having some of the pension funds run out of money,” said R. Eden Martin, president of the Commercial Club of Chicago, a business group that has been warning of a “financial implosion” for several years. “Funding for the schools is going to be cut radically. Funding for Medicaid. As these things all mount up, there’s going to be a lot of outrage.”

(The article does not mention Massachusetts but we have a pension liability of nearly 15 billion dollars.)


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