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Governments Examining Pension Costs
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South Florida Sun-Sentinel.com
South Florida cities begin slashing pension costs
By Jennifer Gollan
6:26 PM EDT, June 24, 2010
Once they were considered a sacred perk for public sector employees.
But pensions have morphed into an albatross for many municipalities, compounded by shrinking tax revenues, investment losses and longer life spans. Now cities such as Fort Lauderdale and Delray Beach are reining in costs for future retirees, with others ready to follow suit.
"Pensions are the hardest to go after because of the bargaining with the unions, but we have to take them on," said Hallandale Beach Interim City Manager Mark Antonio. "Taxpayers who are unemployed are not getting these pensions, and they are questioning why police and others are getting guaranteed pensions."
For more, click here: http://www.sun-sentinel.com/news/local/florida/fl-pension-cuts-20100624,0,783067.story
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