Posted in Politics

Nobles: no pension panic

   February 23, 2009

While researching for my Outtakes column, I ran across this quote from then-Councilman Jack Nobles from August 2005:

“Let’s reward employees and be fair to them. I’m not ready to push the panic button,” he said.

It was during the 2005 budget workshops when the council was facing yet another budget increase due to the rising pension costs —$8.5 million increase in two years.

The PNJ reported: “Councilman Jack Nobles defended the pension program, calling it a ‘Cadillac’ program and a perk for employees. He said changing the program because it has increased because of a downturn in the stock market would be an overreaction.”

Is it time to push the panic button, Jack?

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