Voters get a say in fixing Scituate police pension fund at April 2 FTN

Voters get a say in fixing Scituate police pension fund at April 2 FTN

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CITUATE - Town officials are negotiating with the police union and researching options as they aim to solve the $8 million problem of financing the police pension fund, an issue that saw the town excoriated in a television news report last month.

The pension fund currently covers 33 people, including 16 retirees and 17 active members of the police force.

The town is negotiating with the local International Brotherhood of Police Officers union for acceptance of changes to the pension plan, which at 27.5 percent is one of the lowest funded in the state. The Angell Pension Group Inc., fiscal adviser to the town, called its condition "critical."

For the budget year starting April 1, the $33.4 million town budget includes $758,709 for the police pension fund, $100,000 more than the annual required contribution set by auditors, but is subject to voter approval at the April 2 Financial Town Meetng.


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