BRADY: Long Run Budget Picture

Through ongoing discussions with union officials and advisers, I am working to develop a fair plan to tackle this challenge. It is important to me that we find a solution that will not undercut workers and not unduly burden taxpayers. Workers deserve to receive the retirement monies they counted on when hired and while working for the City.

Funding levels are at 56% presently and the City is facing an unfunded liability that continues to grow. The entire plan must be examined and continued management would be contingent upon realized returns.

As Mayor, I will undertake an examination of the City’s long term obligations. Past initiatives have left the City with a considerable amount of debt, and the ability to engage in new investment must be weighed against this burden. I will work to reduce the City’s debt load, while identifying key areas of needed improvement within Philadelphia’s infrastructure.

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