Common Council wants to have a plan in place by the end of the year to revamp the city’s financially beleaguered pension plan.
That emerges from its weekend meeting to determine what the priorities will be for next year and by the time the next municipal election rolls around.
An Ipsos-Reid poll finds Saint Johnners, by and large, don’t understand the scope and extent of the problem but Mayor Mel Norton does. He says it might be the most seriously financial challenge the city has ever faced.
Norton says without reforms, the city would have to pay about 24 million dollars into the pension plan next year which is more than the entire budget for one of the protective services.
