Alabama Town’s Failed Pension Is a Warning

The city of Pritchard, Alabama has stopped making pension payments to it's retired workers.  It is against the law to completely cut of the pension payments but the city has said that if they make the payments they will not have the money for garbage removal, street lights or any other services provided by the city's yearly budget.  For all of you state and federal employees let this be a lesson to you.  When these pension deals were originally agreed upon nobody looked to the future to see if they were sustainable - well they aren't.  Is Pritchard your future?