"State and local governments face unmet pension fund obligations of as much as $4 trillion according to some studies, possibly jeopardizing their ability to provide essential services and meet their debt service payments. Moves by Coventry and a few other towns around the country have sparked fears in the municipal bond market that the situation could unravel.
/
By the end of that painful case, retirees' pension payments were slashed in half, but bondholders escaped unscathed after state legislators passed a law."
http://www.reuters.com/article/2013/05/31/us-usa-pension-rhodeisland-coventry-idUSBRE94U01220130531
/
By the end of that painful case, retirees' pension payments were slashed in half, but bondholders escaped unscathed after state legislators passed a law."
http://www.reuters.com/article/2013/05/31/us-usa-pension-rhodeisland-coventry-idUSBRE94U01220130531