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Wed December 11, 2013
What would cutting pensions mean for future Detroit retirees?
Federal Judge Stephen Rhodes gave Detroit the go-ahead to make cuts to public pension and healthcare benefits.
Emergency Manager Kevyn Orr maintains that Detroit's pension funds are unfunded by $8 billion. That's a big chunk of the city's $18 billion in overall debts and long-term liabilities.
So what will happen to future pensions?
Cynthia Canty spoke with Alicia Munnell about the possibility of cutting pensions for future city retirees. Munnell is the director of the Center for Retirement Research at Boston College.
To hear the whole interview, click the link above.
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