SAINT JOHN, N.B.- As we come to the end of another busy year for Saint John Common Council, the new year will start with some changes for the city’ pension plan.
Shelly Rinehart the Deputy Mayor for the city says the new plan will be better for the city as they move forward with a shared risk model. “I think what you’re seeing is a transition period to a much different system than we have had in the city in the past”, says Reinhart. “I guess I would liken what we currently have through the pension plan is almost being self insured”.
City council will be meeting on Wednesday night with hopes of passing the operating budget for 2013