Sentences with phrase «city pension obligations»

De Blasio and his representatives regularly say that reserves are at «historically» high levels, which is true, but the city budget is also higher than it has ever been, city personnel hiring has been expanded significantly over the past three years, and city pension obligations are greater than ever before.

Not exact matches

The city is weighed down with debt, billions in unfunded pension obligations, declining credit ratings, a police department often accused of using excessive force against African - Americans, a rising tide of murders, and a host of other troubles.

As tax revenues have shrunk, the city's financial obligations have grown — mainly to an ever - expanding pool of 30,000 retirees, promised life - time pensions and health benefits by short - sighted government officials over decades who consistently failed to fund those future obligations.

After warning the City of Stockton that its pension obligations did not enjoy a privileged position in federal bankruptcy court, U.S. Bankruptcy Judge Christopher Klein proceeded to confirm the city's plan of adjustmCity of Stockton that its pension obligations did not enjoy a privileged position in federal bankruptcy court, U.S. Bankruptcy Judge Christopher Klein proceeded to confirm the city's plan of adjustmcity's plan of adjustment.

Cities and states will preserve their credit ratings by annulling their pension obligations to public - sector workers, and raising excise and sales taxes — but not property taxes.

The city of 300,000 plans to cut payments to bondholders while leaving intact pension obligations to public workers and retirees.

«The city does have a plan to slowly, over 22 years, catch up the funding in its pension obligations.

The No. 1 goal of the Connecticut Education Association, the largest union representing teachers, was to block the governor's proposal to shift a huge portion of the teachers» pension obligation to towns and cities.

Cuomo himself has said he woudn't want to commit a state bailout to cities that face growing pension and health care obligations.

In fact, he largely strayed away from criticizing Stringer's record in arguably the most important aspect of the job, instead pivoting to the city's increased operating budget, though he did say the growing public personnel — which has increased dramatically under Mayor Bill de Blasio — has had a negative impact on the city's pension system by increasing obligations.

The mayor's proposed budget sets aside $ 600 million to help fully fund the city's pension obligations.

The city's unfunded obligation for post-employment benefits other than pensions grew by nearly $ 39 billion to $ 92.5 billion between fiscal years 2006 and 2013, and will likely continue to grow during the financial plan period

«I think that proportionally the cuts that are inflicted on New York are an outrage,» the mayor said, adding that more layoffs will be in store unless the state passes a series of major money - saving reforms, including legislation that would allow the city to reduce its pension obligations.

And after a city actuarial analysis found New Yorkers are living longer than they used to, the city is now planning to spend an additional roughly $ 600 million a year to help fund its pension obligations.

Minority Leader Steven Matteo, head of the Council's three Republicans, first addressed property taxes, which he wants to see reformed, then wondered about the costs of the city's pension obligations and when they would be fully met.

City, school and Chicago Teachers Union officials have looked to Springfield for a permanent fix that would address the weight of the district's pension obligations.

Atlanta Public Schools Chief Financial Officer Lisa Bracken said the school district has higher costs for several reasons: The expense of city living drives up teacher pay; the district has «low population» schools that lack economies of scale but are kept open «due to urban traffic constraints and community needs;» many students need extra services because they have learning problems or disabilities, don't speak English fluently or come from poverty; and the district has a large unfunded pension liability with growing obligations.

A DOE spokeswoman said the city school system treats all public schools and students equally, but said the city school system is responsible for other costs, such as contractually negotiated obligations for salaries, benefits and pensions, that charter schools are not obligated to provide employees.

The only way for a city to survive these days is to pay its employees those Walmart wages as well and get rid of all those pesky pension obligations; bankruptcy is just the ticket for that.

It's stuck with billions in pension obligations to all the civic employees that used to work in the bigger, richer city.

Notable mandates: Successfully overturned a $ 100 - million pension obligations judgment against MTS Allstream on appeal; represented the City of Winnipeg in interest arbitration with paramedics; lead negotiator for the University of Brandon in talks with its faculty association; acted for the Puratone Corp. in its CCAA proceedings and purchase by Maple Leaf Foods; negotiated first labour agreement for the Canadian Human Rights Museum; Manitoba counsel on a number of P3 deals, including the Pan / Parapan American Games Athletes» Village Project.