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Detroit Pensions Not Responsible. Go to governing.com, the website for Governing Magazine. Visit the current issue for the well sourced article.
Obviously my skills aren't up to this story so it is my hope one of the many skilled diary authors here pick this story up.
Disclaimer: I have been fortunate to have retired with CALPERS. I hope my successors are as fortunate, asshat 1 %ers are trying to steal from them, not yet from me.
I hope someone can make a decent diary because it's important to many brothers and sisters.