Pennsylvania city files for bankruptcy as liability for public pensions grows
Posted On: Nov. 15, 2022 9:22 AM CSTCity of Chester, Pennsylvania, has filed a Chapter 9 bankruptcy petition due primarily to the extreme underfunding of its three pension plans, reports Pensions & Investments. The largest of the city’s obligations are for the Police Pension Plan, the Paid Firemen's Pension Plan and the Officers and Employees Pension Plan.