Detailed text transcripts for TV channel - FOXNEWS - 20130821:22:32:00
Pension peril. >> reporter: many state and city workers around the country are worried what happened in detroit may happen to them. abru bankrupt city that starts cut pension benefits. >> there's a tendency to overpromise, underfund them, and when a problem comes up, the actuary says put in so much, they're very ready to just defer that cost onto the next generation. >> reporter: some pensions have been improving, but a study found eight states have less than 60% of funds. illinois the worst at 45%. $138 billion short. >> every year lost is a much bigger challenge as one rolls forward. so they...
Source: news source