Hedge fund billionaire, unions trade blows in Phoenix pension fight

Reuters – A push to reform Phoenix’s retirement system has become the latest front in a battle between union-backed groups and a Texas hedge fund billionaire over the future of America’s public pensions.

Hundreds of thousands of dollars, much of it anonymous out-of-state money, has been flowing to backers of a November 4 ballot initiative in Phoenix that aims to end traditional public pension plans for the city’s new hires.

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