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Why California's pensions could bankrupt cities, like LA

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When most people retire, they depend on their savings and Social Security checks to pay the bills. But for local government employees in California, the picture is a bit different. They take advantage of pension plans that dole out checks which often mirror an employee’s salary. But there’s a growing problem with that system: the amount of unfunded liability is on the rise.

Credits

Host:
Kevin Roderick

Producer:
Benjamin Gottlieb