Possible First US Public Pension to File Chapter 11

Posted on 04/23/2012


Legislators and governments beware; generosity can kill the sustainability of American public pension funds. According to experts, this might be the first US public pension fund to file Chapter 11 bankruptcy protection. Last Tuesday, the Northern Mariana Islands Retirement Fund, Saipan filed for Chapter 11 bankruptcy protection. This is a restructuring of the public pension […]