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WATSONVILLE PENSION COSTS 02/23/11 0600 E.A.

WATSONVILLE CITY COUNCIL MEMBERS ARE LOOKING TO RESTRUCTURE SPENDING AND SERVICES AS PENSION COSTS INCREASE. NEXT YEAR ALONE, PUBLIC EMPLOYEE PENSIONS ARE EXPECTED TO GROW BY 8-HUNDRED-THOUSAND DOLLARS. A TWO-TIER PENSION SYSTEM HAS BEEN SUGGESTED THAT WOULD SCALE BACK BENEFITS FOR NEW HIRES. THE CITY OF WATSONVILLE IS FACING A DEFICIT OF NEARLY 2 MILLION DOLLARS FOR THE 2011 FISCAL YEAR.

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