Source: Alicia H. Munnell, Jean-Pierre Aubry, Josh Hurwitz, Mark Cafarelli, Challenge, Vol. 57 no. 4, July-August 2014
From the abstract:
Detroit’s bankruptcy and Chicago’s financial problems and large unfunded pension liabilities have attracted national concern. The question is whether cities across the country are about to topple like dominoes—and whether pensions are the problem. The answer, the authors write, appears to be “no” on both fronts.