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Chester receiver reports pension gains, flags appellate and school-district risks ahead of budget
Summary
Receiver Vijay Kapoor told MRAC members a recent jump in pension assets has reduced immediate payment risk, but warned that a pending Third Circuit ruling and a claim by the Chester Upland School District together pose budgetary uncertainty ahead of the council’s budget vote.
Vijay Kapoor, the court-appointed receiver for the city of Chester, told the Municipal Recovery Advisory Committee on Nov. 25 that the city has made measurable progress on pension funding but still faces legal and revenue uncertainties that could reshape next year’s budget.
Kapoor said the Police Pension Fund held about $27,400,000 in real assets as of Oct. 31, 2025, up from $1,750,000 when the city first entered receivership. He credited work by the finance department and consultants for enabling the plan to be invested beginning in June 2024, which improved returns. "My name is Vijay Kapoor. I have the pleasure of serving as the receiver for the city of Chester," he said as he opened the status update and framed the gains.
The improv…
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