Pension Update

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    Steve Horchar

    ***Pension Update***

    From Mr. Robert Klausner:

    Today, the lawyers for the Plaintiffs, including for Local 964 filed a brief with Judge Rubin addressing the manner in which damages will be calculated for retirees. The City funding method will eventually exhaust the variable benefit and the Plaintiffs method does not. It ultimately will involve an interpretation of Article 22, Sections 36 and 37 of the City Code. We believe our interpretation follows the plain language as written and the City interpretation seeks to rewrite the plan. When a ruling is received, it will be posted.

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