Suit contends officials 'knowingly underfunded' plan over past decade
Baltimore's police and firefighters' unions filed a lawsuit against the city in federal court Thursday, contending that officials "knowingly underfunded" their pension plan over the past decade — ignoring the advice of financial experts hired by the city.
The lawsuit threatens to introduce a protracted and costly legal battle into the emotionally charged debate about altering the retirement benefits paid to public safety officers.
If officials do not make drastic changes to the pension system by July 1, the city will owe $65 million that it cannot pay.
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3 comments:
When you get in bed with democrats don't be surprised when you get screwed !
The state also does not fund the retirement fund of state workers. Instead, they use the money they take out of today's employees to fund retirees. It's been called dangerous by many financial experts.
When you keep voting for these idiots expecting a free ride down the road this is what you get .
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