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Monday, August 09, 2010
Ind. Gov't. - Ominous news, if true
From Sunday's NY Daily News, an article by professors Eileen Norcross and Todd Zywicki that is headed "How public worker pensions are too rich for New York's - and America's - blood" and subheaded "New York's horrible pension habits are a window on a national pension picture that’s looking more disastrous by the day." Mostly about New York, but then, half-way into the story:
Professor Joshua Rauh of Northwestern University projects that even if public sector plans earn 8% on their investments, four states - Illinois, New Jersey, Connecticut and Indiana - will run out of assets to pay retirees by the end of the decade. States and local governments will soon find themselves up against a painful tradeoff: between closing schools and libraries and cutting other essential services or paying inflated pensions to 50-year-old retirees.
Posted by Marcia Oddi on August 9, 2010 03:46 PM
Posted to Indiana Government