City of Regina submits pension proposal; employee groups not consulted
REGINA – The City of Regina says it has a proposal to help keep its deficit-plagued civic pension plan afloat.
But the plan being submitted today to the superintendent of pensions is not a joint submission with the employee groups.
City manager Glen Davies says they couldn’t find common ground on how to resolve the pension issue, but they’re confident the proposal covering seven-thousand workers is sustainable and affordable for all involved.
The Financial and Consumer Affairs Authority announced earlier this year that unless changes are made to the pension, it would be cancelled.
© 2014 The Canadian Press