Philly taxpayers on hook for $600M+ this year, for city pensions

Unrealistic investment return of 7.7% makes gap seem smaller than it is. Pension Research Council Executive Director and Wharton professor Dr. Olivia S. Mitchell notes that the “consensus estimate is that stock and bond markets are unlikely to earn the assumed 7.7 percent return, so the funding will be much below what is projected.” Click here to read the full article on Philly.com