Pension budget raided to plug deficit

Thomas Breen  |  June 13, 2018

“The city plans to fill a $14 million projected deficit this fiscal year with money originally budgeted for underfunded pensions, and with an extra $2.5 million from Yale University. … Adam Marchand asked about the potential negative consequences of taking up to $16 million out of the city’s budgeted pension contributions. 'They’re far less than if we don’t balance the general fund,' Jones replied.” 

Read the full article on: New Haven Independent (Connecticut)

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