Stockton, California, Retirees Feel Shock of Benefit Rollback

June 28, 2012. An article by Alison Vekshin, Business Week.

Stockton’s approach punishes people with little power to fight back, said Frank Mauro, executive director of the nonpartisan Fiscal Policy Institute, a nonprofit research organization based in Latham, New York.

“They’re hurting very vulnerable citizens,” Mauro said yesterday by telephone. “What can a retiree who’s been retired for 10 to 15 years already and is living on a fixed income do?”

Also posted to Bloomberg News and Financial Advisor magazine.

Filed in: FPI in the News