A State Pension Bailout Even Mitch McConnell Can Support [Forbes]
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Source: Forbes
If McConnell is sincere about not wishing to throw good federal money into badly mismanaged state... [+]and local pensions, a workable compromise would be to make any such bailouts contingent upon forensic reviews of, and improvements to, pension investing.GettyLast week Senate Majority Leader Mitch McConnell said heopposesfavors “allowing states to use the bankruptcy route” to deal with their underfunded public pension liabilities. In other words, as I wrote inKiss Your State Pension Goodbyelast week, use bankruptcy law to break pension promises.On the other end of the political spectrum, the president of the Illinois State Senate, Democratic State Senator Don Harmon, hasaskedA global pandemic and national emergency is an unprecedented situation and presents a compelling case for aid to states and local governments. However, problems with the nation’s thousands of public pensions far predate the coronavirus.Today In:I have personally investigated over $1 trillion in retirement plans,
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