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Wednesday, June 8, 2011

Mayor Speaks Out On City Pension Plan

There will be modifications to what the city proposed as a solution to fix its pension plan after a closed door meeting with provincial officials.

That admission from Mayor Ivan Court who says the two sides will have to talk more in order to find common ground but a solution has to be found in the next two months.

The Mayor says the worst case scenario would be if the province did nothing pwhich would necessitate a 12 to 14 cent rise in the city's tax rate which does not see happenjing.

Court says his message to Saint John taxpayers is there's no intent to raise taxes to fix the city's pension plan.

The city is asking for changes that under the current legislation cannot be approved by the Superintendent of Pensions.