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April 20, 2014, 4:39 pm
970 WMAY News

Upcoming Budget Talks for Springfield To Include Pension Talk


Expect some battles during the upcoming Springfield city budget process over police and fire pensions.

 

Mayor Mike Houston says he will stick with his current approach for dealing with the issue… including his reliance on an estimated 7.5% return on investment for the pension funds.

 

Critics say that’s too optimistic, but Houston says lowering the estimate would require the city to divert millions more from other city services into pensions.

 

Alderman Joe McMenamin is still pushing for a much more aggressive approach to pensions… including imposition of a wage freeze in order to slow the growth of benefits.

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