$10 Million to Go to Police-Fire Pension Fund
The Springfield City Council voted unanimously last night to put the $10 million won through a telecommunications settlement toward the struggling Police-Fire pension fund. KSMU’s Alvin Chen reports.
The city and AT&T Mobility reached the settlement last week in a lawsuit over unpaid back taxes.
Louise Whall, spokesperson for the City of Springfield, says the commitment was made weeks ago.
“The Council passed a resolution before the February 3rd election, [and] committed that any settlement funds that they received in the telecom cases would be directed toward the Police-Fire pension fund. So, with this settlement, they were actually fulfilling the commitment that they made before the February 3rd election to direct it into the fund which they approved last night,” she said.
She also says the Police-Fire pension fund will receive the money once the agreement is finalized.
AT&T Mobility has until June 30th to deliver the check to the city.
For KSMU News, I'm Alvin Chen.