The New York Times DealBook

Stepping Up With a Plan to Save American Cities

November 11, 2013

In a November 2013 interview with the New York Times DealBook, Jim Spiotto offered a way to help cities in dealing with rising pension obligations. His innovative structure--the Public Pension Funding Authority--would allow severe distressed municipalities to make decisions on a case-by-case basis whether unstable pension funds could be saved and by which measures. The Authority could also help communities restructure debt.