This article in The Boston Globe on the pension and medical-cost liabilities of that school in Cambridge was pretty eye opening:
Harvard’s medical coverage liability for 20,900 current and future retirees, about $812-million, is bigger than the City of Worcester’s ($765-million). With approximately a $763-million pension liability, Harvard has total retiree obligations that top $1.6-billion, or 5 percent of its assets.
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