Coral Gables Note: Unfunded Pension Liabilities Will Increase

The current slow patch in financial markets is likely to increase pension liabilities for Coral Gables with the decline or slowdown in returns of pension investments.  In any case, the unfunded pension liability is about $2oo million and the city has elected to make the minimum necessary contribution in the next budget cycle.  Rather the city prefers to increase its debt and expand capital spending, rather than try to deal with its big liabilities.

Are you sure that Mayor Slesnick was defeated?

About Stephen E. McGaughey
International consultant in economic development programs and projects

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