What else has been done combat the problem besides the sales tax proposal?
The city has taken many steps to tackle this problem. They include: increasing the City contribution rate; withholding two pay increases for police and fire employees so that money would go to the plan; reducing benefits for employees hired after July 1, 2006, including the return of contribution and changing the multiplier, the minimum years of service, the COLA, and disability benefits; and leave accumulation was capped. The Pension Board has been restructured and now has greater investment flexibility and has lowered investment fees by 30 percent. The City increased its contribution rate to 50 percent of Police/Fire salaries for fiscal year 2008-09 (resulting in a $5.2 million budget cut). The City also contributed an additional $500,000 of funds realized from an earlier telecommunications settlement.
Related Questions
- How can an acoustician offer a proposal and fee before knowing what the problem is? What is the best way to approach these projects?
- How does the SpySnare product help my IT staff combat the problem of our ‘road warriors’ coming back with infected systems?
- What else has been done combat the problem besides the sales tax proposal?
