Ravenstahl says he expects state to take over city pension plan

All the king's horses and all the king's men, couldn't put Humpty together again. But, if only all the people worked on the plan, then things would be different. Ravenstahl says he expects state to take over city pension plan

Mr. Ravenstahl said he and his staff have spent nearly two years working on a plan that would parlay proceeds from a leasing parking facilities to a private operator into a pension fund bailout. He said the plan would avert a state takeover that would lead to dramatically higher pension payments that the city could make only by raising taxes or cutting services.

Read more: http://post-gazette.com/pg/10291/1096246-100.stm#ixzz12jpCS33I