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Proposals to Benefit City Pensioners

Posted 11/16/20

In the Current Pension Topics of Oct. 9, I wrote:

"The city (taxpayer) can satisfy all of its borrowing needs at an interest cost of about 1.5 percent. So why does the city borrow the member's Accumulated Deductions/Annuity Savings at a minimum interest cost of 5 percent? An interest-bearing savings account is hardly the optimum way to save for retirement. The mandatory pension deduction is crying out for alternative investments."

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