Financially stressed U.S. states reduce pensions, delay retirement benefits

06/20/2010 | New York Times (tiered subscription model), The

U.S. state governments are increasingly scaling back pension benefits and making employees work longer before retiring, as they face reduced tax revenue and a widening budget deficit. Despite these changes, some experts predicted that the pension funds of Connecticut, Illinois, Indiana and New Jersey will run out in less than 10 years.

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New York Times (tiered subscription model), The

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