Upholding obligations to the Pension Fund

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By Gov. Dennis Daugaard
 
Nebraska’s well-known and successful investor, Warren Buffett, mentioned public pension obligations in his annual letter to Berkshire Hathaway shareholders: “Local and state financial problems are accelerating, in large part because public entities promised pensions they couldn’t afford. Citizens and public officials typically under-appreciated the gigantic financial tapeworm that was born when promises were made that conflicted with a willingness to fund them. Unfortunately, pension mathematics today remain a mystery to most Americans.”
 
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