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Steve D:

You hit the nail on the head with your comment that city retirees will not take home their entire 70% of pay for all future years the day they retire. They will -- and already do -- rely on the rest of us -- you and me and all the other taxpayers around here to pay them each month, month after month, their pensions so that they can pay their future taxes, buy food, get to the movies once and a while and buy things for their grandkids.

I am sure that you have taken steps to ensure that you will have enough funds for your own retirement. You probably have fire insurance, auto insurance, life insurance. If you heard that your insurance companies were not following the requirement for future reserves to pay you back it would not surprise me that you take steps with the regulators to bring the insurance companies to their tasks.

So, what is different about the city. Don't you think the city employees want their benefits manager to meet the statutory requirement for funding too? If the actuaries say the city is only 51.2% funded wouldn't you think that the city employees would want to ask why?

I really don't get why we don't see eye to eye on this actuarial finding.

From: Avedisian looks to address weak sister of city’s 4 pension plans

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