Wednesday, March 14, 2012

UNFUNDED LIABILITIES: ; Bill to target fire, police pensions

Legislators this year will again try to help cities tackle nearly$700 million in unfunded liability in pensions for professionalfirefighters and police officers.

"These are basically promises made to these firemen andpolicemen," Sen. Dan Foster, D-Kanawha, said last week. "The problemis if we don't do something we're concerned that there may bedefaults in some of these cities."

Half the unfunded liability in West Virginia's 53 different fireand police pension plans comes from the Charleston, Huntington andWheeling areas.

Charleston's unfunded liability is more than $200 million, MayorDanny Jones said. He estimated the city's police pension plan wasabout 14 …

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