01-19-2011, 12:06 PM
The payments of the 1% will be paid to the city and deposited directly into the pension to make up for the pension shortfalls. The city intends also to fold the 1% fund into the pension and credit the officers with what they've earned. This will end large cash payouts or rollovers when the officer leaves the department. According to City Manager Crapp, "This will go a long way to making up shortfalls in the city's budget process."
This may be illegal however so was all the changes they did last year. The city's position is "go ahead and sue us, it will take YEARS to resolve."
This may be illegal however so was all the changes they did last year. The city's position is "go ahead and sue us, it will take YEARS to resolve."