- Saturday Tsubasacon Cosplay Contest and Skits
- A Super Cosplaying Saturday Afternoon at Tsubasacon
- Mayor Williams Asks Rader be Appointed Fire Chief
- Huntington City Council Agenda Announced; Budget Session Thursday
- Huntington's McElroy Brothers Celebrate Series Debut
- Wild Life Invading Fukushima from Radioactive Forest
- Ohio Tax Examiner Wrongfully Accessed Confidential Data
- Elsa from Frozen Made a Cameo Appearance Leading Huntington Parade, Visits Eastgate Mall Saturday in Cincy IMAGES
- When Evidence Says No, But Doctors Say Yes
- Detroit man sentenced to 10 years; Huntington drug dealer sentenced to over three years
Pension Funding Places Charleston, WV on Likely to go Bankrupt List
The reason for its listing by the publication is that it has the worst funded pension system of any major city in the United States. It has 24% of the funds necessary to cover about $337 million in pension debt, the article said.
Comparing the position of West Virginia to that of Illinois (which has the a lower pension funding ratio than W.Va.), the report concluded Charleston faces a stiffer challenge than Chicago due to “high levels of poverty and declining population.”
Moody’s has placed the following cities “on notice:” Santa Fe, New Mexico, Trenton, N.J., Cincinnati, Ohio, Minneapolis, Minn., Omaha, Neb., and Portland, Ore. Providence, Rhode Island, was placed on the list by the writer also for the condition of its pension system.
Charleston Mayor Danny Jones, in a separate interview, debunked the article as based on a "fictional" circumstance, where pensions came due all at once, instead of over the course of 35 years.
Huntington had faced similar critical pension under funding prior to the legislative approval under the Wolfe Administration of a re-amortization plan.