The city’s pension plan deficit is rising and will be above the 193 million dollars it was at last count, likely exceeding 200 million dollars.
Common Councillor Bill Farren tells CHSJ News the city is in bad shape because of the pension plan and change will have to happen. What that change will be, no one knows.
The city has been examining the shared risk model but what that stands in light of the rising deficit, Farren didn’t want to speculate on.
Farren does concede taxpayers are fed up with this and have been for some time.
