Major issues also included reducing
municipal pension costs and reducing regulations to spur economic growth.
Not exact matches
While every little bit helps, what's really busting
municipal and school district budgets are employee health care
costs and
pension obligations.
Many troubled municipalities are grappling with how to bring down
pension costs while
municipal - bond holders are trying to figure out how to protect their interests before or during a
municipal insolvency.
Exploding health care and
pension costs, among other problems, are beyond the city's control but have an increasingly oppressive effect on
municipal finances.
All three towns had seen revenue such as the mortgage recording taxes drop sharply with the financial crisis of 2008 at the same time that
municipal costs, including
pension contributions, went up.
He also says
municipal leaders are struggling with fast rising
pension and health care
costs, a shrinking property tax base and declining state aid.
The report compared the total
costs, including investment and administrative of the CPP with five large public sector plans based in Ontario, including: the Ontario Teachers»
Pension Plan (OTPP), the Ontario
Municipal Employees Retirement System (OMERS), the Healthcare of Ontario
Pension Plan (HOOPP), the Ontario
Pension Board (OPB), and the OPTrust.
(The
costs will also have to be high enough to allow Teranet's owners, a
municipal employees»
pension fund, to recoup their $ 1 billion over the 50 years, plus a good yield.)