How Ch. 9 Can Solve The Pension Shortfall Crisis

Law360, New York (June 15, 2010, 1:03 PM EDT) -- In a world replete with a commerce-crippling volcano, disastrous earthquakes, ever-rising taxes and ever-falling property values, it's easy to push aside the pink elephant in the room — unfunded public employee pension funds. But as surely as ash from a volcano in Iceland has the potential for affecting everything in its path, so too will the looming pension crisis affect all of us for generations to come.

In contrast, the City of Vallejo, California, did seek relief for its pension obligations under Chapter 9, a move...
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