The total budget for pensions and retirement contributions for Pensacola city employees is $12,810,80. This costs every man, women and child living inside the city limits an average of $237. Maybe we should set up a special assessment for employee benefits instead of fire service.
The News Journal had an article on how Solutia is coming out of bankruptcy. A federal judge in New York confirmed Solutia’s plan for reorganization late last week and approved the company’s exit from Chapter 11 protection. The court also approved a $2.05 billion loan from three major banks to pay creditors and fund ongoing operations and retirees’ benefits. Solutia/Monsanto retirees will see cuts in their health insurance benefits and life insurance coverage.
Is it time for Pensacola to follow the Solutia example? I understand pensions for frontline firefighters and police officers, but why elsewhere? Why the city council?
Do think locals would love jobs paying $40K-$90K, even if they didn’t have big pensions and retirement plans?