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Proposal: city workers surrender pensions, get cash buyout

By Claudia Vargas – City Controller Alan Butkovitz thinks he has a solution for Philadelphia’s staggeringly underfunded pension fund: buyouts. Butkovitz is proposing that the city offer up-front cash payments to retirees, who, if they took the option, would surrender…

Proposal: city workers surrender pensions, get cash buyout – City Controller Alan Butkovitz thinks he has a solution for Philadelphia’s staggeringly underfunded pension fund: buyouts. Butkovitz is proposing that the city offer up-front cash payments to retirees, who, if they…

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