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October 24, 2014, 3:34 pm
970 WMAY News

McMenamin Says Meaningful Changes In City Pension Funding Unlikely Before 2015


After years of banging the drum on the issue, Springfield Alderman Joe McMenamin sounds like he’s preparing to throw in the towel over the city’s underfunded pensions. 

 

Appearing live on the 970 WMAY News Feed, McMenamin repeated his concerns over a total unfunded liability that is now six times larger than it was a decade ago.  But McMenamin said every proposal he’s made to address the issue has been shot down. 

 

He says the best strategy now may be to wait until the spring of 2015 and hope the city chooses a mayor that’s more focused on addressing that gap in pension funding.

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