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Center City Fire Department requests higher PERA retirement rate; budget committee member warns of long-term liability
Summary
Fire Department requested increased retirement contribution rates through PERA; Budget Committee member Mark Wolcott cautioned that raising the rate is effectively irreversible and could create an unsustainable future liability. Council will consider fiscal sustainability.
At the Oct. 1 meeting of the Center City Council, Travis Greene of the Center City Fire Department asked the council to consider raising retirement contribution rates through PERA.
Budget Committee member and Councilmember Mark Wolcott said he is concerned about raising the rate because, under law, the rate can be increased but not reduced, which could create a future budgetary liability if the city cannot sustain the higher rate. The council recorded the request for committee consideration; no vote or rate change was made at the meeting.
The Budget Committee will evaluate fiscal impacts and sustainability before any formal council action.
