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|Subject: Re: Proposal to end public pensions||Date: 7/10/2013 12:03 PM|
|Author: steve203||Number: 428364 of 515831|
...that opens the municipality to future liability of unpaid benefits if the purchased policy fails to deliver for ANY reason.
Nope. That liability has been "tort reformed" away.
Pension Protection Act of 2006
Established safe harbor investments, also known as Qualified Default Investment Alternatives, to protect employers from liability of losses suffered by automatically enrolled employees
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