Mayor Mel Norton is sold on the provincial pension reforms that he wants Common Council tonight to authorise the city to ask the provincial task force for help with the city's financially beleaguered plan.Norton is hopeful this could be a way out of the financial quagmire and even lower the plan's unfunded liability which is in excess of 190 million dollars.
In the meantime, Councillor Susan Fullerton will be putting forward a motion tonight to disband the Pension Board which would be replaced by an interim board made up of members she describes as qualified financial professionals.
Councillor Shirley McAlary wants a meeting to be set up with the Superintendent of Pensions to make clear what the city can and can't do with changing the pension plan.
