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How to save public pensions, no federal bailout needed Congress can help many public pensions address enormous debt by creating a law that will enable states and local governments to lower the benefits they promise their employees, writes an expert. Lawmakers should ensure that only pension plans in a serious debt situation will qualify for aid, and that the relief application should be at the discretion of state and local government officials, the expert adds. "Most important, pensions should be required to uphold their original intent: to keep retirees who can no longer support themselves out of poverty." –The Wall Street Journal

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