Summary
HARRISBURG -- Pittsburgh Mayor Luke Ravenstahl on Thursday acknowledged the city's pension problems could be far worse than predicted, and the city's finance director said the system's liabilities could top $1 billion.
"These numbers obviously are very fluid. They keep moving. Once the numbers are run, they may be even worse than we're already predicting," Ravenstahl said as the city's pension board in Pittsburgh grappled with pending legislation for a state takeover of the system.See the full content of this document
Extract
Finance Director: Pittsburgh's Pension Liabilities Could Top $1 Billion
The Pennsylvania Municipal Retirement System would assume control of the ailing pension system under a Senate-passed bill that addresses other underfunded municipal pension systems across the state.
Ravenstahl last night rallied about 100 u...See the full content of this document
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