CHICAGO — A new analysis from Morningstar weighs in on the debate over the size of Detroit's pension liability, suggesting that current pension fund assumptions fall mostly within accepted industry standards.

The fate of the city's pension benefits will be a key battle if Detroit enters into Chapter 9 bankruptcy. Pensions are protected under the Michigan constitution, but Detroit emergency manager Kevyn Orr and Gov. Rick Snyder have proposed dramatic cuts, and whether or not federal bankruptcy will trump state law could have reverberations beyond Detroit.

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