“After the end of the ramp the City will be required to fund the Police and Fire Funds at an annually calculated amount that will produce a funded ratio of 90% by 2055. Therefore, it is likely that the City will face significantly increased contributions in FY2021, the first year after the ramp.”

Translation: The can-kick is bigger than initially apparent.

1 Comment
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
bob
3 years ago

And of course under PA99-0506 starting in 2020 property taxes will increase automatically to make the required contributions.