From what I've been able to piece together from various news sources, I have some questions about what the city is presenting:
Are they really re-allocating $100 million in grant money from the US government for blight removal to fund pensions? How exactly does that not run afoul of the law?
Did the City's required contributions to the fund change, or, in great political fashion, did the City simply allow the funds to increase their expected rate of return, in order to reduce cuts today [[meaning that if the return targets are not met, cuts will be reduced further in later years)?
Did the City's contribution to health care go up or down? When GM and Chrysler set up VEBAs, they funded them with large [[billions) stock contributions? With what are these healthcare VEBAs being funded?
If anyone can point me to the actual term sheet or press release on the deal to enlighten me, I'd appreciate it.
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