Baltimore To Appeal Ruling On Pension Reform

BALTIMORE (AP) — Baltimore officials will appeal a federal judge’s ruling that part of their package of pension reforms to for police officers and firefighters is unconstitutional.

Lawyers for the city have filed a notice of appeal with the 4th U.S. Circuit Court of Appeals in Richmond, Va.

At issue is the city’s plan to replace a variable benefit tied to the stock market with a fixed cost-of-living adjustment. Under the current system, retired police officers and firefighters get a bump in their pension benefits when the stock market goes up. City officials say that causes a drain on the fund when the market tanks.

The city wants to implement a system of cost-of-living increases based on age. A judge sided with unions for police and firefighters in ruling that change was discriminatory.

(Copyright 2013 by The Associated Press. All Rights Reserved.)


Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Baltimore

Track Weather On The Go With Our App!
Your Podcast Network

Listen Live