One of bridges that lead into downtown Pittsburgh. Photo: Getty Images.

June 13 (Bloomberg) — The fiscal rebound of Pittsburgh, the former steel-city capital that shed a Rust-Belt fate by rebuilding its economy around universities and hospitals, has struck an obstacle that’s bedeviling municipalities nationwide.

Pennsylvania’s second-most-populous city faces an operating deficit next year for the first time since 2005, partly because of higher pension contributions after officials lowered assumptions for the retirement system’s investment returns.

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