Thursday, September 9, 2010

Very Interesting Day at City Hall

I'll be posting more my take on the situation with the ambulance response times and the pension for former MAST/now KCFD employees tomorrow. I'll leave you all tonight with this photo taken during the city council meeting when Ed Ford and others objected to pushing forward with the ordinance that would have had the city financing $40 million of pension obligation over 10 years. Note the mayor's charming body language!

Oh, this is amazing and juicy stuff...

2 comments:

Bob G. said...

T.O.:
Geez, don't tell me YOUR city is starting down that rocky road of PENSION funding (with money they donpt have)...
It's damn near broke the banks fo SO many other MAJOR cities across America.

This is something that COULD have been privatized AGES ago, but was not.

Now, with all these people reaching retirement age, the cupboard is bare and the piggy bank was emptied a long time ago...
And it will fast become an exponential debt..you watch.

Incurring MORE debt to float this boat is NOT the way to go.

It WILL get very interesting, trust me.

Have a great weekend.

the observer said...

Oh, it's awful Bob. This was not a merger of pension equals. The EMS people had a 401 (k) and now need to be tucked into the already poor poor city pension system under the fire department bucket. The plan was to extend the paying of $40 mil over 10 years. I'm a little behind in my blogging, so I'll write in a bit more detail later, but truly, truly it is a bad mess.

The Observer