Detroit's pension fund was well-funded, but suddenly it wasn't

9:16 am
Sat July 20, 2013

Detroit's pension fund was well-funded, but suddenly it wasn't

Lead in text: 
Current methods for calculating the health of pension funds might be outdated. This post by Mary Williams Walsh explains why.
Until mid-June, there was one ray of hope in Detroit's gathering storm: For all the city's problems, its pension fund was in pretty good shape. If the city went under, its thousands of retired clerks, police officers, bus drivers and other workers would still be safe. Then came bad news.