Regional Vice President of Sales The Retirement Plan Company
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Loan & Distribution Specialist AimPoint Pension
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Compass
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Bates & Company, Inc.
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AimPoint Pension
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Philadelphia Confronts the Cost of Employee Benefits (PDF)
The Pew Charitable Trusts July 8, 2009
18 pages. Excerpt: Against [the recession] backdrop, one of Philadelphia's biggest expense items -- its employee benefits -- has emerged front and center. The amount Philadelphia spent on health care benefits and pension costs alone stood at $830 million, or 21 percent of its general fund budget in fiscal 2009. This is up from $590 million, or 17 percent in 2005 and $403 million, or 16 percent, in 1998. Under a city plan that needs approval from the state legislature, pension costs are projected to decline over the next two years -- before rising dramatically. By 2013, the bill for pensions and health care combined is projected to approach $1.1 billion, or 26 percent percent of general fund spending. And that estimate is based on the assumption that the city's total health care expenses will stay about where they are now.
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