Now that Premier David Alward has signed off a repeal of the city's Pension Act, Mayor Mel Norton taking a cue from the province's collaborative approach to hammering out the best reforms.
Common council carrying Norton's motion the city enlist the provincial pension task force to consult with labour groups, personnel, and plan members to restructure the city's nearly $200 million dollar pension deficit.
Norton says a cooperative approach will provide long term security for plan members, ensuring funds will be there "forever and a day," in the mayor's words.
Norton says a cooperative approach will provide long term security for plan members, ensuring funds will be there "forever and a day," in the mayor's words.
The move that was recently approved by the Legislature is believed to give to City more control over the pension plan. Norton making it clear whatever the task force comes back with, the decision remains with the City of Saint John.
