Thursday, December 30, 2010

Pgh Council's Pension Numbers Are Off

Instead of voting to override Mayor Luke Ravenstahl's veto of a their plan to bolster the pension fund and avert a state takeover, Pittsburgh Council this afternoon went behind closed doors to try to hash out a re-worked plan. That's because the numbers in the Council plan, approved on a 7-2 vote Wednesday, are off. That's according to Councilman Ricky Burgess and Joe King, president of the Firefighters' Union.
So now, Council has to devise a new proposal, pass it and send it to the Mayor, who will likely veto it because he still favors a leasing of city parking assets, and then override the anticipated veto....all before 12:00 a.m. Friday night. That's the deadline for the threatened state takeover of the pension fund unless it is at least at 50% of its obligation.

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