• HOME :
  • NEWS :
  • NEW HAVEN WILL LOOK TO BORROW $250 MILLION TO FUND PENSION LIABILITY

New Haven will look to borrow $250 million to fund pension liability

MARCH 14, 2018 | by Mary O’Leary | NEW HAVEN REGISTER

“The city, to better situate one of its pensions, is proposing to borrow up to $250 million to bring it to a funding level recommended by actuaries. …Gary Doyens, a regular budget watchdog, said the document is 'littered' with mistakes and bad projections to protect the status quo. … Wendy Hamilton, after approaching the alders asked: 'Are you joking or are you on drugs?' referring to the tax increase. 'I have two words for you: Tax Yale.' …”

VIEW LESS