Web Results

www.nytimes.com/2010/12/23/business/23prichard.html

Dec 22, 2010 ... As cities and states struggle to pay for pensions, Prichard, Ala., is a worst case. Some retirees have become destitute.

link.springer.com/article/10.1057/pm.2012.11

May 28, 2012 ... On 22 December 2010, The New York Timesreported that 'Prichard did something that pension experts say they have never seen before: it stopped sending monthly pension checks to its 150 retired...

www.kiplinger.com/article/retirement/T020-C000-S002-public-workers-do-not-count-on-pensions.html

Ask the residents of Prichard, Ala., where retirees have experienced dramatic benefit reductions (unlike private pensions, public pensions are not backed by the Pension Benefit Guaranty Corp.). An analysis in 2012 of 126 state and local pension plans by the Center for Retirement Research at Boston College found that the ...

www.wsws.org/en/articles/2011/02/alab-f23.html

Feb 23, 2011 ... Prichard, Alabama, an industrial town near Mobile that is home to 28,000, has attracted national media attention for non-payment of pension obligations to 147 retired city employees, 14 of whom have died since their checks stopped coming in September, 2009. The surviving former pensioners find ...

blogs.reuters.com/muniland/2013/08/08/the-real-history-of-public-pensions-in-bankruptcy

Aug 8, 2013 ... However, Prichard was still unable to meet its pension obligations. In 2009, Prichard filed for bankruptcy for the second time in order to stay a pending suit brought by its pensioners after it failed to make pension payments for six months. In its chapter 9 petition, the city claimed that during the previous year it ...

www.cbsnews.com/news/the-pension-crisis-promises-unkept

Feb 20, 2011 ... After decades of working for Prichard, Ala., retirees receive no pension payments, are told "You can't draw blood from a turnip"

thinkprogress.org/past-city-bankruptcies-show-there-is-no-blueprint-for-detroit-retirees-f46e1b88fb07

Aug 12, 2013 ... The city and its retirees remain in limbo because Prichard has failed to convince a judge it is eligible for bankruptcy. Jefferson County, Alabama — the largest city bankruptcy in U.S. history, until Detroit took that crown in July — never even listed its pensions among the creditors it couldn't pay. Pushed to ...

blog.al.com/wire/2014/05/without_changes_alabamas_pensi.html

May 19, 2014 ... Without changes, Alabama's pension funds could run dry within decade, study warns. Prichard pension rally.JPG. Curtis Banks hold up his grim reaper sign showing his support for his wife pension that needs to be paid as other Prichard pensioners picketed in front of Prichard Municipal Complex Thursday, ...

blog.al.com/live/2013/08/old_problem_new_twist_this_tim.html

Aug 25, 2013 ... MOBILE, Alabama – Prichard has failed to reach an accord with employees nearing retirement. Now it will be up to a bankruptcy judge to decide its fate. U.S. Bankruptcy Judge William Shulman has set a Sept. 30 hearing to consider a request by four of the employees to dismiss the bankruptcy case.