Posted: Tue. June 16, 2015
Senior Fellow Lawrence McQuillan, author of California Dreaming appears on Radio Americas Made in America to discuss the public pension crisis in the US. How did public pension funds become so depleted and why havent politicians made good on their promises to fully fund pension systems? The city of Detroit went bankrupt and the judge ruled that pension benefits to current retirees can be cut to pennies on the dollar. McQuillan explains how to fix the system and make good on promises to retirees while keeping future public pension systems solvent.