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Archive Home > 2010 > December > 23 > City’s failed pension may be sign of what’s to come

City’s failed pension may be sign of what’s to come

By Michael Cooper and Mary Williams Walsh / The Bulletin
December 23, 2010

PRICHARD, Ala. — This struggling small city on the outskirts of Mobile was warned for years that its pension fund would run out of money by 2009 if it did nothing. Right on schedule, its fund ran dry.

Then Prichard did something that pension experts say they have never seen before: It stopped....

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