Bridgeport May Defer Pension Payments

It looks like Bridgeport might get some financial relief from the state in the form of deferred payments to the municipal pension plan. This will be a big help to Bridgeport as it struggles to get its fiscal house in order, with the town currently facing a $20 million deficit, and a win for Mayor Joe Ganim.  Sadly, the underfunding of state and local pensions is a constant problem in these days of low interest rates; and in underfunded pensions in the private sector all too often things do not end well for the pensioners.