The city’s shared risk pension plan continues to bother Common Councillor Susan Fullerton who claims only 3 per cent is shared risk. She wonders who’s on the hook for the other 97 per cent if the plan runs into trouble.
Fullerton also argues neither the city nor the province can get a clean audit because there’s no accounting of liabilities in shared risk pension plans.
She calls it a poisoned pill that hangs over the city’s head like the sword of Damacles.
Deloitte Touche says retirement benefits will form part of the risk assessment in its audit of city finances. That audit is expected to be done by the end of June.
