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06 | 09 | 2010
Union Power: LACERS Board Moves Toward Approving Risky Early Retirement Deal PDF Print E-mail
Written by Ron Kaye   
Wednesday, 09 September 2009 08:54

Rejecting a staff recommendation and warnings from the City Attorney's Office, a board committee of LACERS -- the city's civilian pension fund -- voted 2-1 Tuesday to allow unions to pay back the costs of the early retirement incentive program (ERIP) for 2,400 of its members over 15 years -- instead of five.

The issue -- which threatens to blow up a deal the mayor and City Council offered the Coalition of City Unions -- now goes to the full LACERS board and ultimately the Council.

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Last Updated ( Wednesday, 09 September 2009 08:56 )