Puerto Rico is drowning in debt—$70 billion worth—but it wouldbe wrong to think that only those in Puerto Rico would be affectedby some of the measures being suggested to manage thesituation.
Bondholders, both in Puerto Rico and in the rest of theU.S. as well, will be in for a toughtime if some of the strategies suggested are used—and that willweigh on both plan participants and retirees, since theirretirement accounts may be laced with Puerto Rican bonds.
In addition, retirees in Puerto Rico, and participants in theisland’s public employee pension plans, could be left out inthe cold, since those plans are coasting on empty—to the tune of$46 billion in unfunded liability.
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