If a city goes bankrupt, should it still be obliged to pay the pensions of its retirees?
Or should the public employee retirees wait in line with the city's other creditors?
They definitely should be obliged to pay the pensions of everyone... Would you rather people starve instead?
yes they should pay, many of those people traded a higher pay for better benefits including paying into a pension and other benefits, its a contract that shouldn't be broke. However i heard somewhere on a news show that if the city declares bankruptcy they can then renegotiate all pensions even the ones they"re handing out, whether it's true or not i have no idea.
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