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Pension pool problems

Massive unfunded liabilities loom in funds covering retired workers from Marquette, Ishpeming and Negaunee

February 13, 2014
ZACH JAY - Journal Ishpeming Bureau (zjay@miningjournal.net) , The Mining Journal

ISHPEMING - The city of Ishpeming has more than $7.1 million in unfunded liability between its two pension funds for public employees, reflecting a growing controversy seen around the country - and perhaps best typified in bankrupt Detroit - of municipalities struggling to find ways to adequately fund their employees' retirements in the future.

 
 

 

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