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City Administration, Treasurer At Odds Over Pension Funding
Galesburg's City Treasurer and City Manager have a difference of opinion on just how well funded the city's pension funds are.

City Treasurer Marv Dahlberg addressed the matter Monday night. He says the city has 28-million dollars in unfunded pension liabilities, and state law requires that hole to be plugged by the year 2041.

Dahlberg says sure there's plenty of time to get there, but not at the rate the city is funding pensions.

"Everything's within a context of reality," he said. "I would quite frankly like to see, and I don't know if you've (the council) read the actuarial reports, I'd like to see the highest number, and I think we are probably at the middle number. That's about $110,00 more."

City Manager Todd Thompson says the city is adequately funding pensions. He says Dahlberg's assertion that the city isn't being prudent with its pension funding just isn't true.

Thompson says funding ratios for all three of the city's pension funds are about the same, and believes the city has always been good about funding pensions, at least at the minimum.
11 23 11 by Newsroom
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