Miami owes $213M to police and fire pension fund, consultant says

[Unregistered]

Miami owes $213M to police and fire pension fund, consultant says

http://www.miamiherald.com/news/loca...182669991.html

If fire department settlement was $22.5 million
And the fop was $33 million what happens to the rest of the money??????

This doesn’t add up!

Where are the city and fop consultants reports? What type of scam is going on here?

[Unregistered]

Miami owes $213M to police and fire pension fund, consultant says

http://www.miamiherald.com/news/loca...182669991.html

If fire department settlement was $22.5 million
And the fop was $33 million what happens to the rest of the money??????

This doesn’t add up!

Where are the city and fop consultants reports? What type of scam is going on here?

The city has settled pension and salary disputes with the unions to the tune of $53.5 million, resolving a legal battle stemming from austerity measures taken during the Great Recession. More than half of the money will come from the city’s reserves, which will dip about $10 million below the city’s self-imposed threshold for maintaining a healthy rainy day fund.

While the city has to pay out hefty legal settlements, it could have been worse. A city fiscal analysis shows the city could have been on the hook for $486,000,000 in back pay and pensions for the city’s police officers and firefighters. Settlements with each union approved by commissioners this month total $53.5 million, which includes about $37 million in upfront payments that will diminish the reserve

https://www.miamiherald.com/news/loc...220590280.html

[Unregistered]

What’s owed to the pension fund is way different than salaries owed to the members. But then Tommy will know how to calculate todays monies for future cost and why delaying it for 5 years has increased today’s cost.

[Unregistered]

What’s owed to the pension fund is way different than salaries owed to the members. But then Tommy will know how to calculate todays monies for future cost and why delaying it for 5 years has increased today’s cost.

What the hell are you talking about! The settlement is done. $50 million dollars period ! That’s the whole settlement