Re:The Pension Hole for U.S. Cities and States Is the Size o...
by dragonwriter on Tuesday July 31, 2018 @01:59AM
(#17650878)
> Minor nitpick, but it’s in Illinois’ state constitution that pensions cannot be reduced.
Major nitpick, but in the event of municipal bankruptcy (the context of the store you responded too), federal bankruptcy law trumps state law—including the state constitution—because Supremacy Clause. The bankrupt entity doesn't cut pensions, the bankruptcy court does.
Major nitpick, but in the event of municipal bankruptcy (the context of the store you responded too), federal bankruptcy law trumps state law—including the state constitution—because Supremacy Clause. The bankrupt entity doesn't cut pensions, the bankruptcy court does.