California to tackle liabilities

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US - California state governor, Arnold Schwarzenegger, has set up the Californian Public Employee Post-Employment Benefits Commission and given it one year to devise a plan to tackle the state's unfunded pension liabilities.

The newly established 12-member commission will identify the extent of the unfunded liabilities and review and analyse options for addressing them, before recommending a course of action on 1 Janua...

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Central & South America

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