Pension Fund Sues City

“The pension plan is in such bad shape that, in the most recent year, the assets in the plan declined, even though the investment return exceeded the 7 percent actuarial interest assumption,” said Dan Tobben, a McKitrick attorney. “It is very possible that this plan has ceased being on the ‘slippery slope’ and is now beginning a ‘death spiral,’ unless there is a significant infusion of money by the city.”

Read more… The (Alton) Telegraph
Published: October 29, 2007


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