Pension board, City Council to review deal
Updated On: May 26 2014 11:52:39 AM EDT
The agreement reached last week between Mayor Alvin Brown and the Police and Fire Pension Fund advances to its next hurdles this week.
At 11 a.m. Tuesday, the pension fund's board is expected to pass the agreement during a special meeting, then the agreement will be introduced to City Council at Tuesday evening's meeting.
The legislation is still being drafted and will become an addendum to the bill as it winds it way through various committee reviews.
Not all City Council members are keen on the idea. Part of the plan calls for the city to contribute $40 million more each year to begin catching up on a $1.7 billion deficit in pension contributions.
Council president Bill Gulliford says no funding source is defined, although a city pension task force recommended a property tax or sales tax increase to generate the money. Brown has repeatedly said he will oppose any tax increase. Some council members say he should support the idea of letting it go to voters to let them decide.
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