“This is a quiet crisis, but it’s very real. There are currently 200 other plans on track for insolvency – that’s going to affect anywhere from 1.5 to 2 million people. The prognosis is bleak minus some new legislative help. Municipal and state plans are the next to go down – that’s a pension tsunami that’s coming.”
Source: NY Teamsters Pension Becomes First To Run Out Of Money As Expert Warns “Pension Tsunami” Is Coming