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Wednesday, August 3, 2011

Pension Payment Due

The city will have to shell out 9 million dollars in payments towards the 2010 pension plan, whether the province makes pension reforms in the fall or not. 

That from Finance Commissioner Greg Yeomans, who says changes to the plan would not relieve the city of their 2010 payments. 

Deputy Mayor Stephen Chase says he doesn't want to move forward until the province's assessment of the city's pension plan is made public.

Councillor Chris Titus says he doesn't want to make the payment either, but it's required, and if the city doesn't pay it the province could take other action.