A wave of bankruptcies is moving across the country as cities try to manage crushing debt from pension obligations. NewsHour Weekend reports from Vallejo, Calif., with a cautionary tale for cities that are looking to bankruptcy as the solution. Funding for this segment is provided in part by the Linda and John Arnold Foundation.
Associated Press reporter, Sarah Burnett, talks to Hari Sreenivasan about new legislation concerning the state's pension system and about how it may affect retirees, labor unions, and taxpayers in that state and in others. Funding for this episode is provided in part by the Linda and John Arnold Foundation.
As cities and states across the U.S. grapple with their pension programs, the Netherlands seems to have its pension problem solved. Ninety percent of Dutch workers get pensions, and retirees can expect roughly 70% of their working income for the rest of their lives. Funding for this episode is provided in part by the Linda and John Arnold Foundation.