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October 22, 2014, 10:48 pm
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Springfield Aldermen to Consider PILOT Money for Public Safety Pensions


Springfield Aldermen will decide this week how to act on a measure to give more money to the police and fire pension funds.

 

The ordinance sponsored by Aldermen Joe McMenamin, Steve Dove and Tim Griffin would take Payment in Lieu of Taxes—or PILOT money—that exceeds budgeted amounts and transfer it from the corporate fund to the police and fire pension funds.

 

Springfield aldermen will debate the measure that would transfer over two million dollars to the two funds Tuesday during the Springfield City Council Committee of the Whole.

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