A new study finds that pension costs as a percentage of city revenue average 7.9 percent, much lower than originally thought.

As politicians, retirees and city and state governments strain to address unfunded defined benefit pension obligations, a Manhattan Institute fellow set out to address what he terms a few myths and half-truths.

The average amount of money devoted to funding public pension plans equaled 7.9 percent of revenue generated by cities, a survey of 173 municipalities has found.

The funds 10 investment beliefs read more like a series of principles to guide socially responsible investing and have been met by more than a hint of scorn by some in the investment world.