It's time for the city to settle part of its huge pension tab. The city will be paying 8.7 million dollars to make good on its 2010 pension plan contribution.
Commissioner of Finance Greg Yeomans says it has to be done since the province did not accept the city's initial pension reform plan.
A revised plan will not be looked at by the province until the fall sitting of the Legislature. He says the money will be charged against the city's 2010 operating budget unless the province allows at least some of it to be deferred to lessen the financial impact.
