From cities like Chicago and San Diego to states like Kentucky, Connecticut, and New Jersey, it’s no secret that public pensions are dying.
But what’s harder to know is exactly what this means for you. What if you’re owed a pension? What do budget shortfalls mean for your local police force? Or for a school system that’s worried about how it will fund teachers’ retirement?
If you live in a municipality that’s really struggling to fund pension plans and itself in general, the problems could even affect your home value and, of course, taxes.