Monday, February 02, 2009

Retirement Board meeting 2/4

The Pension Board meets on Wednesday, Feb 4. Here are the unaudited pension asset figures as of January 27:A few weeks ago I mentioned that the pensions were probably underfunded by $15,000,000 - $17,000,000. Well, as of January 27 it looked like we were closer to being down $20,000,000.

And now the Town is poised to enter another round of collective bargaining.

So while I will continue advocating for a switch from defined benefit plans to defined contributions plans... I obviously can't speak for other Council members. But if you think making the switch from DB to DC is important, I suggest you contact the other eight Council members.

Tim White

1 comment:

Anonymous said...

It's time to bring the public sector in line with that of the private. We have come to the point where people are losing their houses because the can't afford thehigh property taxes.