Retirement Redefined: Pension Crises

Sep 8, 2011

City and state workers have historically put up with mediocre salaries because of the guaranteed pension benefits that come with the job. Those days may be over. Many cities now face huge deficits in their pension funds after the recession, and years of dipping into those funds for other projects. San Diego is a poster child for the pension crisis. The city faces over $2 billion in deficits. As we continue our series on retirement redefined, Fronteras Changing American Desk reporter Ruxandra Guidi profiles one city worker and his current retirement prospects.