Democratic mayoral candidate Mary-Jane Foster has sent a letter to leadership of Connecticut’s House and Senate to take steps requiring the city to develop a plan to meet its pension obligations should the State Legislature approve Mayor Bill Finch’s request to further delay contributions to the city’s pension fund. The mayor wants to avoid an election-year tax increase by deferring the payments in the hope the city’s pension fund investment experiences a market rebound.
“For residents who wonder why Bridgeport is always behind the eight ball, putting off paying our bills is the reason why,” says Foster. “That’s what we get when our mayor puts his re-election ahead of our taxpayers, and Bridgeport deserves better. In the interest of good government, I urge the State legislature to put a plan in place with clear requirements and timelines for meeting our financial obligations and unmistakable consequences for failing to do so.”
Letter from Foster to Senate President Don Williams and House Speaker Chris Donovan. Foster copied the mayor and members of the city’s legislative delegation:
The City of Bridgeport is poised to again seek the State’s approval to forestall making required contributions to the City’s pension fund, rumored to be the original $20 million deferred two years ago plus an unspecified additional liability. However, if the State continues to allow the City to put off its legal and moral responsibility, without any consequences, the City will never come to grips with this situation.
Governor Malloy quickly assessed the financial crisis facing the State of Connecticut and proposed a plan to deal with the issues, which requires shared responsibilities among all stakeholders. The City of Bridgeport has yet to recognize its own financial crisis and therefore, to date, has not developed a plan for addressing the very real and significant fiscal issues it faces.
If the State legislature again approves a waiver of Bridgeport’s contribution to its pension fund, I respectfully request that certain requirements be placed upon the City and there be serious consequences if the City fails to abide by them. Specifically, I recommend that the City be required to perform the following:
1) Submit to the State’s OPM Director a detailed plan with how and when the City plans to meet its obligations. This must lay out a timeframe for meeting its financial obligations on an ongoing basis as well as making good on prior obligations that have not been met. This plan would require the OPM Director’s approval.
2) Submit to the State’s OPM Director a detailed plan to reestablish a financially prudent fund balance. As part of this plan, the city must layout a policy on front-loaded structured contracts and / or PILOTs that assure a significant portion of these funds go to the fund balance and not be used to finance daily operations until the balance and pension obligations are met.
3) Commit to avoid any deficit spending, whether planned or unintentional, which would further erode the City’s fund balance.
4) Agree that failure to abide by the above or failure to live up to any actions agreed to in the above will result in the State’s implementation a mandated financial review board.
The actions that I have laid out are aggressive and carry serious implications but the current City administration has failed time and time again to acknowledge its financial responsibilities and to live up to its contractual obligations with the City employees.
The State must draw the line now and require a responsible plan of action from the City if Bridgeport is again looking for the State’s permission to put off a significant monetary obligation.
To make it even more clear to the Finch administration that the future of this City isn’t going to be compromised, we have asked Governor Malloy to veto any action passed in the General Assembly that would permit deferring pension payments as required by law.
The governor was very clear in his recent Bridgeport appearance that he would not accept the idea of a “balanced” budget that called for deferring pension payments.
In working with this administration there seems to be acceptance that no rules apply except the ones they make up themselves.
No waiver should be given and then we may start to know just how bad this budget is.
BOB is doing a fantastic job. We will join you Monday.
Lots from you. Still nothing from your candidate. You are running out of time.
This mayor has been good at making a big show of obtaining concessions from the municipal employees’ unions, all the while protecting the paychecks of all the people who are juiced in for the Democratic Town Committee. That’s not right, to make an understatement …
*** When did MJF announce she was “officially” in the Mayor’s race; or is Lennie assuming again? Also with a Malloy veto if necessary, it sort of pays Finch back for his support of Lamont, no? Bpt’s government house of cards is continuing to play without a full deck! *** Poker anyone? ***
Mojo, Foster has formed a candidate committee and is expected to make a formal announcement next week.
It appears Finch has presented a balanced, no layoff and no tax increase budget by using the sale of city hall/annex and yet another deferral of the pension payments. The one-time revenue from the sale of the buildings should go to the fund balance, at least that’s what Finch said he would do. And when exactly do the pension payments come due? When Steelpointe is built?
This is a time when Finch needs the support of the governor. This is exactly why you don’t burn your bridges, no matter what Mario tells you to do. Part of me wants the legislators to say NO to the deferral of pension payments. But if that happens then what? Does MJF offer a solution for balancing the budget any other way? How about Gomes?
Smoker,
Does anyone know the actual number of employees who have already been let go by the city prior to this “No Layoff” budget proposal?
city hall smoker: I am sorry I did not get back to you on the sale of city hall. Wednesday at the budget hearing just when it started Sherwood made a statement concerning that sale. Sherwood stated to the committee that any monies received from this sale of city hall if and when it takes place are not part of this year’s budget.
My question on the pension monies is this. Where are the pension contributions made by the city employees going? I don’t know what percentage the employees pay out of their salaries to the pension fund. Let’s for argument’s sake say they pay just $30.00 per week and multiply that by 2,000 employees and you have $60K per week. Where is that money and what is it being used for? I will try to get an accurate number of city employees. Do you know what percentage of your weekly check goes towards the pension? I know at one point in the FD I paid 8%. Is the city using this money to prop up the budget?
I’ll find out today and get back to you.
CT Post is biased and racist. MJF farts and it’s front page.
Those who smelled it, dealt it. Quit trying to deal from under the deck with this race card.
2011, you are 100% full of it. Where does the racist part come into this? Where does the bias part come into this? I looked at the CT Post today and the only article is a live letter from Mary-Jane Foster.
You sound like one of those professional race baiters. Get it right.
Let’s hear where the racist part comes into this. If you are going to make a charge back it up or shut up.
tc, it could be the fact they have only ONE reporter of color on their staff.
I can think of at least two reporters of color on their staff.
Hector, 2011 was equating racism with perceived front-page stories in the CT Post about Mary-Jane Foster. I cant remember the last time there was a front page article about Mary-Jane Foster.
I don’t know how many reporters or workers at the Post are of color and I don’t give a shit. How many people of color have applied to be reporters at the Post? If the answer is zero, whose fault is that? If the answer is 1 or 2, whose fault is that? If the number is 20 then maybe there is a problem. I don’t know the answer, you don’t know the answer and most definitely 2011 doesn’t know the answer.
Charlie Coviello, a mayoral candidate, had an Op-Ed piece concerning his observations on gains to the Grand List this morning as well as Mary-Jane Foster’s letter to the editor. CT Post progress in City coverage maybe?
Confronting Finch claims and statements is difficult because the facts are sometimes hard to dig out. Coviello would take us back to October 1, 2008 when the values from the last revaluation were ordered. Assuming all valuations were seen to be fair by owners (and that isn’t true since people went to Vision Appraisal, or the City Panel with Rich DeParle, or to the Housing Court in New Britain for remedies), then new building assessments would add to the list and fires, demolitions, etc. would serve to decrease said list.
All in all you might grow the Grand List a little (but not like you would if OPED projects were galloping forward), but let’s see the numbers for the years 2007, 08, 09, 10 and current through 9 months. Then we can judge whether there is positive change or a trend, and more important whether it is a material change. If the Assessors system is computerized, a push of the button a few times can give us this information in 30 minutes or less. Post it to a scoreboard and let’s see if the “gains” are significant. Show us the numbers, Bill.
The “unrestricted fund balance” is another claim that needs to be looked at. Is that a number one knows only at year end? Number to be determined when you look at previous year’s fund balance and if the City for the current year had revenues in excess of expenses, then that amount would be added to the fund balance for a total. If expenses exceed revenues, then the fund balance is decreased.
No one will argue against maintaining the fund balance at the levels called for in our Charter. Recent year balances are well below the called-for level as a percent. However is there a number showing in this year’s budget to formally redevelop fund balances, independently of year-end chance? And when we study the history of how over the past decade the balances decreased under previous and current administrations from $55 Million to around $10 Million or whatever the number today, what language or understandings on the part of the City Council protects any funds so deposited from being once again depleted by “emergencies” and “expense overruns” that were contemplated or should have been but not communicated by those who are responsible for such matters?
The focus on pension contributions is important to all taxpayers. “Pay me now or pay me later, but sadly you will need to pay me more later.” Have you heard that from City Hall loudspeakers?
Public Act 09-9 specifically addressed a CT municipality with more than 130,000 citizens who had floated pension deficit bonds (2000) and where values (because of negative markets and investment results) had fallen below a determined level. Bridgeport is the only City that fit the definition it appears. So for three years reduced contributions were called for. How these levels compared to those recommended by the annual actuarial valuation remains to be seen and publicly reported when the various reports and facts are revealed and studied. The City as required filed a report with the State of CT Office of Policy Management last year relative to their plan for action. Who knows what the City plan contemplates? Has it been shared with the Budget & Appropriations Committee? Does it give comfort to those retirees receiving some $30-35 Million of retirement income each year?
There is a State requirement for a funding plan to be re-filed this year by April 1, 2011. Apparently the State OPM is expecting to receive that by April 15, 2011. Is anyone interested in what is planned in this regard? Has anyone heard about this plan? Who is constructing it? Is it anyone receiving a salary or service fees from taxpayers? Let’s look into it.
OPEN, ACCOUNTABLE and TRANSPARENT are the key words. As long as facts and figures of these and other City issues are kept away from public review and objective assessment, we must believe what we are told or struggle with skepticism based on common-sense observations. So talk from the top on “no tax increase,” gains in the Grand List, a growing “unrestricted fund balance” and many other subjects need to be put in the “trust but verify” category. Let’s see if we get to see the numbers this year so verification is possible.
Test Scores Trumbull v. Bridgeport
Trumbull — All scores EXCEED 96% in all grades and in all categories.
Bridgeport — According to Ramos’ own words, the Bridgeport BOE strives to “ATTAIN” the lowest possible score which permits continued accreditation and does not require state intervention.
Whoever that so-called wack-a-doo from Trumbull who made the statement the people of Trumbull would not want their children educated by members of the Bridgeport BOE, he is right.
Anyone who wishes to defend Ramos … you’re wasting your time.
Yahooy,
These are obscene failure rates in the BPT education system. Would any of the Fortune 500 companies ever tolerate this horrific failure rate? We need to run it like a business, fire the deadwood starting at the top. If we continue to accept this as the norm, shame on us. “Good enough” can’t be good enough for our children any longer, they deserve better than this.
In my youth it was mandatory to get your diploma or you ran the risk of being passed over for employment opportunities. Is this the hidden devil in the details? What incentives are we offering our kids to get their GED or high school diploma? What employment can we promise them? This entire structure needs to be gone over with a fine-tooth comb. The problem is much greater than Trumbull’s opinion of Bpt’s BOE.
All of the people in the current city government who are making the decisions to defer pension contributions to make the election year budget pretty don’t really have any “skin” in the game. Why should they worry about a pension? They won’t be around long enough to qualify for one.
yahooy, Sherwood and Nunn don’t live in the city so when it all comes crashing down they’ll go back to Fairfield and Monroe. By the way, Sherwood will collect a hefty pension with full medical benefits (which he earned after 25+ years of service, good or bad). It’s the others who bother me. The vesting time is 5 years. If by some slim chance Finchie gets re-elected, Nunn, Wood and all the others will collect a pension from the city as well. Don’t even get me started on CC who recently moved to Newtown. His pension will be obscene compared to the average worker.
town committee, fire and police pay 8 percent of their pay towards their pension which goes into the City of Bridgeport’s General Fund, that is Pension Plan “A.” Those who join the fire and police from 1983 forward pay 6 percent of their pay into a separate pension fund which is Pension Plan “B.”
Thanks, Ron.
“ditto”
It is Pension Plan “A” where most of the pension discussion is focused. It is that plan which was recognized by Section 14 in 2009 of a CT Legislature, September Special Session, Public Act no 09-9. That Act served to remove the obligation for making a contribution to such plans (except for reading the details wherein what should have been a contribution was temporarily minimized). Wonder which friends of the City at the State level had this provision attached to this Act and whether any of our State Representatives or Senators had an idea about the dollar values involved by this deferral, “kicking the can down the road,” that has been a major component of reducing City budgets for three years in a row.
This plan represents a long-time fully vested employee retirement income promise. It covers, for the most part, people who are retired today, although a few fully vested workers who have continued to work for the City for over 28 years or more are due benefits from Plan A. How many still reside in the City and vote? How many of them are concerned about the long-term affordability of “old” promises made by Mayors and ratified by Councils long out of office? Why has this administration collaborated with State representation to keep payments to these plans minimal for the first three years of Finch’s term and the real terms of this arrangement almost secret? Is it embarrassment over past Trustee investment losses, while the City continues to repay the monies bonded?
We are still making bond payments and interest payments for the funds borrowed in 2000 to bring funding of Plan A up to a respectable level. Only one minor problem popped up, the investments were affected by negative markets and Plan A today with annual outflow obligations of around $35 Million, if it earned no returns on its current asset level, would find the drawer empty in about five years. Yet the obligations to the retirees (and to the bondholders) would still be there, unfunded, on a pay-as-you-go basis, in what amount? Shouldn’t we know this? Future annual pay-as-you-go expenses for pensions or retiree healthcare plans can be calculated. Shouldn’t the Budget and Appropriations Committee have access to these numbers as they assess the annual budget? What actual dollar amount is currently annually going into Pension Plan A from employees at 8%, and from the City as their commitment? Where is this covered in the Annual budget?
For those who don’t think money issues are important for the City, just think about tax burdens. A dollar spent today, or committed for tomorrow is a dollar that cannot be used for other vital and current needs in the City. A new administration needs to shed total light on this issue in their first 100 days since the current administration has not seen fit to do this in their first 1370 days. All of us remain handicapped by old commitments that increase in size because of interest expenses for borrowed monies. It’s a crippling condition and the State is not coming to our rescue on this one, nor is the current administration. As someone else indicated, if there is no “skin in the game,” personal self-interest does not come into play.
It takes time to dig into the financial picture and it takes more time to express that picture in words. (To anyone who feels my posts are too long, I invite you to cover the issue as broadly and specifically in fewer words.) This is relevant to getting at a full, true picture of what City finances are about. And if our responsibilities are large, so will our future tax burden, and that will affect our residential property values, and also the relative attractiveness of the City to new economic development. Whose doorstep do you lay that burden on?
Disagree? Bring it on …
Hector Diaz–You have got to be kidding, Post biased & racist because they only have one person of color!
They are also Anti-Native American, anti-Asian, maybe even anti-disabled because they do not have reporters of those backgrounds.
The longer idiots like you, Ernie, Donj, etc. rely upon the race card to explain your lack of performance, the longer you stay mired in a subsistence lifestyle.
When Ernie Newton logs on and plays the race card it is the act of a desperate man. It’s also an expression of self pity: “No one loves me because I’m black …” I do not like Ernie “Moses” Newton. My reasons have nothing to do with skin color, lack of height, clothes sense or quasi-literacy. I don’t like him because he’s a crook. He stole money, took bribes and sold out “his” people for cheap. If he runs for his old state senate seat he’ll play on this self-pity by saying “The honky governor got a year and a day and I got a nickle!” Anyone who would vote for a candidate based on that sort of political philosophy deserves the electoral result.
Only a couple of reporters of color on the staff of the Daily Bugle? Call Clarence Thomas.
BPT KID! As I’ve said before, you are the biggest ASSHOLE I’ve listened to. I COULD CARE LESS WHAT YOU THINK ABOUT ME, REMEMBER YOU CAN’T CAST ONE VOTE IN OUR CITY. I DON’T HAVE TO USE THE “RACE CARD,” IT SPEAKS FOR ITSELF!!!!!!!!!
I’ve voted in every Bridgeport election since 2000, Moses.
And your tarot card is “The Fool.” It speaks for itself …
He thinks you’re me and I live out of the city. Lingering effects of controlled-substance abuse.
Every post of Ernie’s I read alludes more and more to the fact he is a foolish idiot.
You are without a doubt a racist. Your comments are offensive and uncalled for.
I’m a racist? Ernie Newton is the one calling everyone else here card-carrying members of the KKK.
Everyone is tired of being fucked over, you know? It doesn’t matter which neighborhood you live in, doesn’t matter if you are employed, doesn’t matter that you’re black, white, brown, tan, Donder, Blitzen, Sneezy, Dopey and/or Grumpy.
BK you know nothing about being “FUCKED OVER.” You just became a Voter in 2000! OK “BOY WONDER,” your new name!
You know nothing of honesty and morality.
I’ve been a voter since 1976, back when you were still trying to get to second base with Erma Jean Rottencrotch. Too bad your literacy development never made it beyond “Fun With Dick and Jane.”
Every one of your posts reminds me of an old Warner Bros. cartoon, the one with Wile E. Coyote, “super genius.” At the end of the film he says “Allow me to introduce myself. My name is mud.” That’s you. “Allow me to introduce myself. My name is Ernest Newton, super moron.”
They’ll be measuring you for another bright orange prison jumpsuit, Ernie. One of your constituents is ratting you out to the FBI.
Bridgeport Kid AKA BOY WONDER! DID YOU SAY YOU ARE WORKING FOR THE FEDS AND YOU’RE A RATTT? WELL JOIN THE CLUB! Lots of rats running around!
Frustrated Bridgeport Democrat,
I have never used the “race card” and what the hell is a subsistance? You lose scrabble points on that one. I was only clarifying what I thought was 2011’s concern. You need to take a walk, get some fresh air. Oh and your sister is an idiot!
Frustrated Bridgeport Democrat–
Native Americans and Asians ARE people of color. And the Connecticut Post does employ a few journalistic-challenged editors and reporters.
*** Color @ the CT Post is not the issue, it’s up-to-date coverage on local government in Bpt, no? Also, MJF has a good point on the pension obligations, but it seems like nothing more than political union baiting for some type of support should she run for Mayor. She still seems out of touch with your everyday voter & issues in Bpt, especially in minority communities! Does she live in Bpt. or will she get a post office box if she decides to run? Change is needed no doubt but a horse of a different color is still a horse, no? *** RIDERS IN A STORM ***
From the communications thus far I am inclined to think Ms. Foster is focused on economic issues, among other things. Money isn’t a cure-all for the many social problems afflicting the city. Attracting business investment to create long-term jobs would go a long way toward healing the greatest social ill: unemployment. Dredging the harbor would create literally hundreds of jobs in cargo handling, warehouses and distribution centers. Selling off city-owned property (the former Black Rock Bank & Trust building on the corner of Brewster Street and Fairfield Avenue, for example) would expand the city’s tax base without increasing the liability on property owners.
The city’s pension obligations have been used in a bookkeeper’s shell game forever. Organized labor will support Ms. Foster’s efforts to end it.
Come on Mojo, you are making this stuff up. You know damn well she and her husband live in Bridgeport’s Black Rock section. Political union baiting, how do you figure that one out? The pension obligations that are being deferred will be paid by the taxpayers of Bridgeport, not the unions.
You know she is out of touch with minority community issues? How is that? She has held a bunch of meet the candidate meetings around the city where she took many, many questions from the voters who attended.
Instead of these posts where you are looking for answers (or are you?), call Mary-Jane, she will be glad to discuss this with you. Make an effort before you ask questions that have obvious answers.
*** Had no idea MJF lived in Black Rock since I’m not one of her political cheerleaders. And in what districts has she been to to talk with voters besides Black Rock & the North End? Also, delay or no delay, the union pension obligations will still be paid by taxpayers, no? It’s the smoke & mirrors issues on using it to balance the budget during an election year that’s the real political kicker, no? And last but not least, when was the last time you checked with anyone before making a comment on this blog about everything & anything? *** Experience has taught me not to believe the hype too soon, no? ***
Mojo, I check with various people to confirm or deny something. People send me e-mails or call almost every day. I comment on Budget issues because I study the budget request and have been attending budget hearings. Cite me an example and I will be glad to respond. A lot of what I say here is my slant on things; I have never claimed my opinion on a certain subject is the only opinion. I will tell you this, I do a lot of research, being retired I have the time.
Mojo–I guess you must have missed her at the P & Z meeting speaking against the halfway house across the park from your house. Mi casa es su casa!
*** Yeah, I missed the boring P&Z meeting due to an evening part-time. Did she actually speak or did she just submit a written statement that night? Also whether it affected my neighborhood or not, the halfway house was just plain wrong to dump more (not in our town) state experiments in Bpt, period! Has she spoken before @ P&Z meetings or public speaking before thinking of running for Mayor I wonder? *** Enough typical political grandstanding! *** WE NEED REAL CHANGE, NO? ***
Mojo, could you send me your email address so I can contact you off line?
acf200@aol.com
The revolutionary fervor that began in North Africa and spread to the Middle East is democracy in action, the purest form of democracy. Rebel forces in Libya are willing to die so their descendants will live in a free country. They want the right to life, liberty and the pursuit of happiness. We have that right. We also have a constitutionally guaranteed right to petition the government for a redress of our grievances.
There a many grievances in Bridgeport. Virtually all of the city’s gravest problems–high unemployment, drugs, crime, violence, homelessness–can be blamed on elected officials. They have failed, time and time and time again, to consider the consequences of neglecting the city and its people. We’re a resilient bunch of folks living in a gritty, hard-assed place.
Way beyond Ernest “T’s” ability to comprehend and discern. Single syllables. No words ending in ck.
Hey Ernie, just because you are a character doesn’t mean you have character.