While California's retirement woes continue to mount – with lawsuits and lower-than-expected earnings in the state's public pension plans – the City of Los Angeles found a small spot of good news in its own retirement system.
According to the Los Angeles Times, L.A. came out looking very good in a review of pension funds and retiree health plans prepared by the Pew Charitable Trust, with a pension system that's 89 percent funded.
In a study of 61 major cities across the U.S., the Trust found that the average funding level was approxmately 74 percent, and the collective pension obligation totaled more than $217 billion.
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