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public-pensions

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As states and cities grapple with budget shortfalls, many are betting big on an unproven formula: Slash public employee pension benefits and public services while diverting the savings into lucrative subsidies for professional sports teams.

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In the national debate over what to do about public pension shortfalls, here's something you may not know: The texts of the agreements signed between those pension funds and financial firms are almost always secret.

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