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The bankrupt city is expected to learn this week the value of roughly 2,800 of its pieces at the Detroit Institute of Arts when New York auction house Christie's delivers its final report.

Minority households have substantially lower retirement savings balances than white households even after controlling for age and income.

There are two sides to each story. Some dont mind cutting public pensions to cover costs. Others do. Im among those who find the cuts appalling.

State pension funds more than doubled their allocations to alternative investments between 2006 and 2012, about a $600 billion increase.

According to data from the Milliman 100 Pension Funding Index, the pension deficit is below $100 billion for the first time in five years as the funded status increased by $34 billion during November.

The economic capital of Illinois and the Midwest, Chicago holds the dubious distinction of having the worst-funded public pension system of any major U.S. city.

The payment for the current fiscal year is $629 million and scheduled to be $703 million next year, according to Parnell's budget office.

Statistics paint a picture of millions of senior citizens forced to live in poverty after their working years end. Congressional gridlock, however, prevents any action that would allow Social Security benefits to remain at promised levels.