U.S. Cities Strangled by Cost of Ballooning Pensions

August 27, 2011

By Leah Krakinowski  Published August 25, 2011

When Beverly Hills residents found out that many of their city’s 950 municipal and public safety employees were earning stunning salaries, 13 weeks of paid vacation, unlimited overtime and other tax-free retirement benefits, taxpayers were outraged and city officials rushed into closed-door sessions to figure out what to do.

These revelations, exposed through the efforts of the city’s hometown newspaper, The Beverly Hills Courier, unmasked an even deeper problem: many California cities, and likely other municipalities across the U.S., are being strangled by the cost of ballooning pension benefits they can no longer afford.

Read more: http://www.foxnews.com/politics/2011/08/25/us-cities-strangled-by-cost-ballooning-pensions/#ixzz1WGDf4SzY



4 Responses to “U.S. Cities Strangled by Cost of Ballooning Pensions”

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