Funding for Springfield’s ‘precarious’ pension system ticks upward
Updated 5:13 AM;
SPRINGFIELD An audit of the city’s finances still finds the retirement fund in “precarious” condition, and it remains the worst-funded public pension system in Massachusetts, but city officials took solace in a newly reached milestone.
Powers & Sullivan LLC, of Wakefield, reported Wednesday that the city’s pension system is 30.2% funded, surpassing the 30% mark for the first time in recent years. This was based on valuation data as of Jan. 1, 2020, and compares to 27.2% two years earlier.
City councilors, after hearing the latest audit report this week, said Thursday they are glad there has been progress.
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Springfield council considers citizen board to address racial equity issues
Updated Jan 21, 2021;
Posted Jan 21, 2021
Springfield City Councilor Tracye Whitfield speaks during the painting of a Black Lives Matter mural outside City Hall in September. (The Republican file photo)
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SPRINGFIELD City councilors on Thursday initiated plans to create a citizen board to address racial equity issues in Springfield, including equity in city promotions, contracts and grant opportunities.
Council Vice President Tracye Whitfield, the new chairwoman of the council’s Civil Rights subcommittee, suggested the Racial Equity Review Board could evaluate community complaints about equity and fairness, and look for remedies. She suggested that the board consist of five to seven residents from diverse backgrounds.