City to discuss pension reductions

 

City to discuss pension reductions

 

Date: February 11, 2010
by: Robin Roy | City Editor

 
 

A cash-strapped City Hall is looking for savings within its employees’ pension plans.

City commissioners will hold a workshop this afternoon, where they’ll discuss a pension reduction that could save city taxpayers more than $230 million over 30 years.

Currently, the city expects to pay $279 million to retired general employees for the next 30 years. Police department retirees would earn $316 million over that same period.

The commission will discuss two savings proposals, which would cut up to $106 million from the general employees’ pensions and $127 million from the police pensions.

The workshop will be held today at 4 p.m. at City Hall, 1565 First St., Sarasota.

Contact Robin Roy at rroy@yourobserver.com.
 

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