Unfunded pension liability concerns baseless
Posted Mar 8, 2012 7:38 am.
This article is more than 5 years old.
The Chair of Calgary’s finance committee says the city doesn’t need to launch a review of pensions.
Ward 14 Alderman Peter Demong wants to know the full extent of the unfunded pension liability of the city.
Demong tells The Calgary Sun with city after city in the United States facing possible bankruptcy because of pension liabilities he wants to know what the situation is here.
But Ward 2 Alderman Gord Lowe, who also sits on the Pension Governance Committee, tells 660News the city’s various pension plans are in good shape after problems identified about a decade ago were addressed.
Lowe says there are no pension surprises on the horizon, and administration and council are watching pension funds like a hawk.
