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Pension bonds add risk to public retiree crisis

January 4, 2013
By JUDY LIN , THE ASSOCIATED PRESS

SACRAMENTO, Calif. - Oakland's city leaders took a risk when, rather than lay off more staff or cut services, they decided to borrow nearly $213 million to cover pension payments owed to retired city workers. They're betting that the pension fund's investments will earn more than the cost of issuing pension obligation bonds.

 
 
 

 

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