BLOOMBERG - Further excitement in the saga of Detroits bankruptcy: Public-sector unions are challenging the citys estimates of its pension underfunding. The actuaries hired by the citys emergency manager say that the pensions are underfunded by 40 percent to 50 percent. The estimated shortfall, according to the Wall Street Journal, is more than five times higher than previous estimates.
The pensions are now fighting back, challenging this assessment.
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