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Milwaukee Public Schools Shrink Teacher Pension Deficit

Milwaukee Public Schools has cut by more than half an unfunded pension fund for its workforce that had sat at $2.3 billion in 2007. So reports the Milwaukee Journal Sentinel.

By July 2011, the deficient shrunk to $1.4 billion, dropped to $1.2 billion two years later and by 2015 was at $997 million. Part of the credit for the decreases is due to setting aside 5% of anticipated retiree claim costs into a trust every year. That trust held $127 million as of July. 

"We still have work to do, but we are headed in the right direction," Dan Chanen, chief human resources officer for the Milwaukee Public Schools, said in a statement. 

Read the full article from the Milwaukee Journal Sentinel.

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