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Thursday, May 31, 2012

Common Council Blindsided On Proposed Pension Changes

Common Councillors were taken by surprise in finding out they had to approve the changes to the city's pension plan they thought had been approved by the previous Council at its last meeting prior to the municipal election and sent on to the provincial government for its approval. 

The councillors were told they had to pass those draft changes by this morning or risk having to cut another 4 million dollars from the city budget. 

Councillor Susan Fullerton doesn't like a gun being put to her head but said she would vote in favour while holding her nose. Two of the other new councillors, John McKenzie and Susan Reardon also said they were not comfortable with having to make a snap decision on such an important issue.

Those changes will require the Pension Benefits Act to be amended and there is doubt that can happen before the current sitting of the Legislature ends early next month.

Despite that, Council voted unanimously to approve the draft changes and send them along to Fredericton.