The financial crisis has blown a hole in the rosy forecasts of pension funds that cover teachers, police officers and other government employees, casting into doubt as never before whether these public systems will be able to keep their promises to future generations of retirees.
The upheaval on Wall Street has deluged public pension systems with losses that government officials and consultants increasingly say are insurmountable unless pension managers fundamentally rethink how they pay out benefits or make money or both.
Over the last year, US corporate leaders have often explained layoffs by saying the positions were...
United Parcel Service on Tuesday said it would cut up to 30,000 operational roles in 2026,...
