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The risky business of pension advances




An elderly couple hold hands at a trade fair at the “Seniorentag 2012” senior citizens convention on May 3, 2012 in Hamburg, Germany.
An elderly couple hold hands at a trade fair at the “Seniorentag 2012” senior citizens convention on May 3, 2012 in Hamburg, Germany.
Joern Pollex/Getty Images

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If you're short on cash, convert tomorrow's pensions checks into cold cash today might sound like the perfect solution. That's the promise a few companies in California and elsewhere are making to retirees, but it's not all it's talked up to be.

For more on these pension advances, we're joined by Jessica Silver-Greenberg, reporter for the New York Times who's investigating this story.