ESPN Home Enjoying Pension Surplus Boosting Bonds: Muni Credit
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Bristol, Connecticut, home of global sports television network ESPN, is bucking a nationwide trend of struggling pension plans with a retirement system that has about 200 percent of the assets needed to meet its obligations.
While communities from Maine to California are struggling to meet pension promises they made to public workers, Bristol hasn’t had to contribute to its retirement plan since 2007 and is now looking to use the $556 million system to foster local economic development.