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
Resident of the City of Coral Gables

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: