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States Take on Public Pensions

As threats to fire fighter pensions continue, it’s not just local pension plans that are threatened. State legislators are beginning to challenge one of the ironclad tenets of public pension policy… the tenet that says states cannot legally reduce pension benefits for current and future retirees. History is on the employees’ side as many state statutes, constitutions and case law consistently define a public pension as a contract between the state and its employees. However, some political officials and legislators are seeking to change history.

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