[Mpls] City pension task force releases recommendations

[David Brauer]

Lots of moolah, folks. Rochelle Olson is on it with a concise, well-written
explanation:

http://www.startribune.com/stories/462/5041451.html

If you have some time for further background on the problem, please read
Scott Russell's expose on pensions two years ago. The problems haven't gone
away:

http://www.swjournal.com/articles/2002/09/09/news/export5567.txt

Given the size of the problem, I'm aghast that Phyllis Kahn would prevent
cities from bonding for pension debt. Borrowing is a terrible solution to
the pension mess - but not as terrible as having to pony up tens of millions
of dollars in one or two years. The obligations are RIGHT NOW; no one
disputes that. I'd love to hear Rep. Kahn's alternative solution.

Meantime, this is an issue everyone (at least on this list) should get their
heads around, because it affects everything you want the city to do, from
spending initiatives to tax reductions.

David Brauer
Kingfield
Editor, SW Journal & Skyway News