Mayor Steve Bach has created a pension solutions team.
“The city’s current pension plans are not fiscally sustainable and if not changed will lead to General Fund insolvency. It is essential that the plans be modified for long term sustainability,” Bach said in a press release.
Accountant Marv Strait will lead the solutions team. Other members include Kurt Kofford, CPA; David Sunderland, retired businessman; two City Council members to be announced; Laura Neumann, city chief of staff; Kara Skinner, city chief financial officer; and Mike Sullivan human resources director. The team is expected to submit a recommenced solution by February 2013.