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Tuesday, March 6, 2012

Former Mayor Favours Radical Change To City's Pension Woes

Former Mayor Shirley McAlary, who is running for Councillor at large, says there will have to be changes made to the city's pension plan and she would favour changing it from defined benefits to defined contributions.

Such a change would have to be approved in the Legislature and would, no doubt, be opposed by the civic unions.

Another concern McAlary has is the amount of debt being carried by the city which she says has exceeded 100 million dollars.

McAlary decided not to run for Mayor because she tells CHSJ News she didn't want a fulltime commitment.