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Here are the facts from the latest Warwick Actuarial pension and OPEB (Healthcare) Reports
Benefit Plan and Actuarial Accrued Liability
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Police/Fire I Pension $311,707,868
Police II Pension $162,563,786
Fire II Pension$31,782,763
Municipal Pension $122,721,770
OPEB (City and Schools) $283,220,644
Total Actuarial Accrued Liability
$911,996,831
If we add in the outstanding bond liability at about $150,000,000 --- result is over $1,000,000,000 (that's ONE BILLION FOLKS)
If we reduce the pension investment rate of return form the curernt 7.5%, which has not been obtained in over 15 years the liability grows even bigger.
WITH NUMBERS LIKE THIS - IT'S NO WONDER WHY AVEDISIAN DOESN'T WANT TO DISCUSS THESE FACTS NOR THE BEACON TO REPORT THEM HONESTLY.
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