Pension Bill Would Require More From City

A proposed state takeover of Pittsburgh's municipal pension fund would cost too much, says the head of the city's firefighters union. Legislation in the state House would require the city to boost payments into its pension fund by $12 million to $17 million more than what's already been budgeted.

Joe King is the President of the International Association of Fire Fighters Local 1. He says there's no way the city can afford to spend that much more. He wants lawmakers to amend the legislation to make participation by Pittsburgh voluntary. King says the city needs more time to try to boost pension payments with new revenue sources, such as the potential sale of public parking garages to a private operator.

King also says he's wary of a state takeover. He says last year, pension investments in Pittsburgh outperformed those in the state plan.

Pittsburgh's pension fund is currently able to meet about 28 percent of its future obligations. Supporters of the state takeover say something has to change soon in order to prevent the fund from collapsing.