September 08, 2012

Defined Benefit Plans

Spag's unfunded pension liability is $6 million.  City of Worcester is, I believe, over 600 million!!!

Right now we need to jump through hoops to balance budget never mind give monies towards this unfunded liability and the unfunded health insurance liability....    Bottom line the City of Worcester needs to make dramatic changes in their daily business activities to avoid the fate breing suffered by Spag's.

No changes will be made and the City of Worcester will be in bankruptcy in 5-10 years.

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