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Disarming Puerto Rico’s Pension Time Bomb

Law360, New York (April 19, 2017, 3:58 PM EDT) -- Richard Cooper

Luke Barefoot With the long-delayed commencement of negotiations between the new government of Puerto Rico and its financial creditors finally underway, and the expiration of the existing stay on creditor actions looming, much of the financial press’ attention over the next several weeks will undoubtedly be focused on whether the government of Puerto Rico can reach an out‑of-court settlement with its financial creditors. One issue that has received less attention in the financial press, but which is of paramount importance to a financially secure local economy, is the challenge Puerto Rico confronts in reforming its multiple pension systems. Like...

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