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State pension funding hits record shortfall, report finds

APRIL 13, 2018 | by Geoff Mulvihill | U.S. NEWS & WORLD REPORT

“While the study looks only at pension funds with major state-government involvement, systems run by cities, counties, school districts and other local entities have had similar problems. Just this week, the Chicago suburb of Harvey, a city with a history of underpaying its pension obligations, announced deep layoffs in its police and fire departments. Officials blamed their rising pension obligations.”

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