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October 20, 2014, 4:51 am
970 WMAY News

Mayor and Alderman Spar Over Public Sector Pension Funding Numbers


The war of words over Springfield’s pension funds is escalating. Mayor Mike Houston says a recent study of the funds that ranks Springfield as worst in the state is based on inaccurate and incomplete data.

 

But Alderman Joe McMenamin… who brought that study before the City Council… says even after correcting some errors, the study still shows Springfield tied for the bottom.

 

Houston accuses McMenamin of offering no ideas to reduce the city’s unfunded liability, but McMenamin says he is offering concrete proposals… such as his latest call for a city wage freeze.

 

McMenamin is also asking voters next year to elect aldermen who will help him tackle the pension crisis.

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