Send To Friend 
CaptionTweet This! http://mync.com/site/45056/
DURHAM, N.C. -
North Carolina communities already facing tight local budgets are learning they may have to spend more to beef up pension plans for municipal workers.
The Herald-Sun of Durham reported Friday that the North Carolina League of Municipalities told local governments around the state last week that a decision should come in January.
Demands for increased pension contributions are blamed mostly on last year's fall in stock values. That damaged the earnings of the pension funds the state maintains for teachers, state workers, and local government employees.
Durham City Manager Tom Bonfield says a projected increase in contributions to cover pension benefits is likely to cost the city $100,000 or more in next year's budget.
Report Abuse 
Post A Comment
Commenting is not available in this section entry.