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Letter to the Editor: Pennsylvania key to a Donald Trump victory

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Ribbon cut for Club Pub at arena, but disagreement might delay opening

<p>WILKES-BARRE &#8212; The city caught a break Wednesday with its pension payments for next year with notice by the state of a $4 million reduction.</p><p>Mayor Tony George said the payment dropped to $4.1 million from $8.1 million after negotiations to lower the Minimum Municipal Obligations or the lowest amount that the city is required to pay into its five pension plans.</p><p>The reduction came two days before the mayor is scheduled to deliver his budget address at 11 a.m. Friday at City Hall. He&#8217;s expected to announce an increase in property taxes and said the pension payment break doesn&#8217;t rule out a hike.</p><p>&#8220;It makes it a lot easier,&#8221; George said of not having to budget for the higher payment.</p><p>Earlier this week city Administrator Ted Wampole said city officials were optimistic about lowering the MMOs.</p><p>Wampole explained that the city might be able to take advantage of credits it has accumulated. &#8220;It won&#8217;t be putting off any money,&#8221; Wampole said.</p><p>The city was notified last month its MMOs would increase to $8.1 million in 2017 from $4.6 million this year. The state was budgeted to contribute $1.8 million toward the three plans with employees still paying into them.</p><p>Details on how much each plan was reduced was not available Wednesday.</p><p>Even with the lower MMOs the plans still faced funding issues.</p><p>The Non-Uniform plan was 52.3 percent funded and had the highest unfunded percentage of 47.6 percent among the three active plans, according to the 2015 valuation, the most recent required by Act 205 of 1984, the state law governing municipal pensions. The valuation listed the plan with assets of $21.7 million, liabilities of $41.5 million and unfunded liability of $19.7 million.</p><p>The numbers for the other plans were:</p><p>&#8226; Fire Relief, for firefighters still contributing, 87. 9 percent funded, $23.5 million in assets, $26.7 million in liabilities and a $3.3 million unfunded liability.</p><p>&#8226; Police Relief, for police officers still contributing, 76.2 percent funded, $21.2 million in assets, $27.8 million in liabilities and a $6.6 million unfunded liability.</p><p>&#8226; Paid Fire, 46 percent funded, $7.9 million in assets, $17.3 million in liabilities and a $9.3 million unfunded liability.</p><p>&#8226; Paid Police, with no members contributing, 38.5 percent funded, $6 million in assets, $17.1 million liabilities and a $10.5 million unfunded liability.</p><style>
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<div class="metaInfo"><bylineMeta><p>By Jerry Lynott</p><p>jlynott@www.timesleader.com</p></bylineMeta></div><div class="metaInfo"><shirttailMeta><p>Reach Jerry Lynott at 570-991-6120 or on Twitter @TLJerryLynott</p></shirttailMeta></div>

Wilkes-Barre pension payments drop for 2017