Pasadena : Retirement Fund Meeting
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City officials and opponents of a plan to bail out the city’s financially troubled fire and police retirement fund are scheduled to meet at 9 a.m. Friday at City Hall to negotiate a compromise that could finally settle the longstanding dispute.
The opponents have said the plan would take several million dollars of redevelopment money that should be used for low- and middle-income housing and use it instead to bolster the retirement fund, which is facing a $125-million shortfall.
A proposed compromise would provide $600,000 a year for housing, considerably less than the $1.1 million a year that housing advocates say should be appropriated.
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