A proposal circulating in the legislature could result in a state takeover of Philadelphia’s municipal pension plan. Many municipalities have difficulty meeting pension obligations, so the state Public Employers Retirement Commission is recommending a new law that would move pensions with less than half the assets required to meet long-term obligations, into a state-run pension plan.
http://www.philly.com/philly/news/local/20090704
Tags: pension, retirement
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