Detroit Not Alone: Around the country with pension woes

Detroit Not Alone: Around the country with pension woes

Pennsylvania’s state system, as well as nearly half of its municipalities, faces pension problems that could force tax increases or bankruptcy, reports the Pennsylvania Independent newspaper.

In this report, the Pennsylvania Auditor General makes recommendations for both underfunding and systemic issues related to public pensions.

Meanwhile, “Chicago faces ominous financial woes, particularly when it comes to its government worker pension debt, but the city has the wherewithal to weather the financial storm that Detroit could not,” the Chicago Tribune writes.

New Jersey Gov. Chris Christie cited Detroit in warning a town hall audience about his state’s pension underfunding.