SAINT JOHN, N.B.- The new board that will oversee the city’s new shared-risk pension plan will assume its new responsibilities on Friday.

Council approved the new appointees on Wednesday.

Councillor Bill Farren says council’s selections are at arm’s length from City Hall. “People that they thought were proficient in finances and pensions and asked them to submit their names and some of them agreed and some of them didn’t”, says Farren. “We selected the four that we thought were the appropriate ones”.
 
Four of the members of the board represent city unions.