Monday, November 15, 2010
Mayor Court On Pension Plan
The big question is whether the city will make a five million dollar payment to its pension plan by today's deadline.
As of last Friday, it appeared the deadline would pass without the payment being made. Mayor Ivan Court is quite candid about what the future holds saying the plan, in it's current form, is not sustainable.
Court says the city would have to pay 129 million dollars if the plan were shut down which is not an option.
Disagreement on what should be done prevented the issue from being talked about at last Monday's meeting of Common Council.
CHSJ News has been told the provincial government will not discuss specific cases.