Comments on: Prichard files Chapter 9 http://www.thepublicpurse.com/2009/10/28/prichard-files-chapter-9/ Wed, 15 Jun 2011 20:57:57 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: GaryM http://www.thepublicpurse.com/2009/10/28/prichard-files-chapter-9/comment-page-1/#comment-205 GaryM Thu, 11 Mar 2010 20:42:08 +0000 http://www.thepublicpurse.com/?p=297#comment-205 I understand the Federal judge in the case ruled yesterday that retirees do not have the same rights as current employees and instead are little more than creditors. Alabama has a state teacher pension plan. I wonder if contributions into that state plan that are in the rear from Prichard would make the state plan little more than another creditor. The state pension plan before this happened was only at 77% funding requirements. It will be interesting to watch how the liability is spread to all of the remaining towns who have to make up Prichard's liability. I understand the Federal judge in the case ruled yesterday that retirees do not have the same rights as current employees and instead are little more than creditors.

Alabama has a state teacher pension plan. I wonder if contributions into that state plan that are in the rear from Prichard would make the state plan little more than another creditor.

The state pension plan before this happened was only at 77% funding requirements. It will be interesting to watch how the liability is spread to all of the remaining towns who have to make up Prichard’s liability.

]]> By: Jack Dean http://www.thepublicpurse.com/2009/10/28/prichard-files-chapter-9/comment-page-1/#comment-32 Jack Dean Thu, 29 Oct 2009 01:28:08 +0000 http://www.thepublicpurse.com/?p=297#comment-32 Thanks for the heads-up. Taxpayers should expect to see more situations like this across the country. To track the trends, visit http://PensionTsunami.com. Thanks for the heads-up. Taxpayers should expect to see more situations like this across the country.

To track the trends, visit http://PensionTsunami.com.

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