The city of Bristol may be the only municipality in the country that has an overfunded pension plan for its employees that's got enough surplus cash to shift some of it pay for retiree health care.
City Comptroller Glenn Klocko said today he's checked with all the bond rating firms, which keep tabs on municipal finances everywhere, and none of them know of another city that has such an excess in its pension fund.
The city has about $500 million socked away, at least $100 million more than it is projected to need.
Copyright 2010. All rights reserved.
Contact Steve Collins at firstname.lastname@example.org