Monday, March 09, 2009

Council Candidate Support Continues to Grow for Alternative Pension Funding Plan

City Council Candidate Fred Ellison announced in a press release, he will support the police and firefighter pension funding plan offered as an alternative solution to the City of Springfield's recently failed 1 percent sales tax. Ellison is running for the City Council General Seat B position.


Fred B. Ellison
City Council Candidate
General Seat B

March 9,2009

For Immediate Release

Fred B. Ellison, City Council Seat General B Candidate, is pleased to announce his support of the ‘Save Our Springfield’ Citizens Coalition proposal to stabilize the Police and Fire Retirement Plan. This proposal would require the City of Springfield to allow the ¼ percent Capital Improvement Program sales tax to sunset in 2010 and request from the voters authorization for a ¼ percent sales tax for the exclusive purpose of funding the Police and Fire Retirement Plan.

This proposal would not require any tax rate increase and would assure that the City of Springfield is able to make the actuary required contribution to the plan over the next five years. The amount of funding provided by the ¼ percent Pension Sales Tax would be approximately $10,000,000 per year.

This proposal will provide the time needed to develop a comprehensive solution to the financial problems of the Police and Fire Retirement Plan, allow the values of the investments in the Plan to stabilize, and provide time for settlement of the telecommunications sales tax litigation which should be contributed to the Plan.

Contact: Fred B. Ellison
City Council Candidate, Seat General B

JackeHammer is pleased to publish news releases on behalf of any Council or Mayoral candidate who makes them available.

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