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The very fact that the members if the city council think that this is acceptable is the very reason that this city is in the financial situation it is in. They apparently don't know what they are doing.
The school department did the right thing by trying to get this fund to 100%, now the city is going to raid it? How is 92% acceptable when it could be 100%? What happens in 20 years if the projected solvency of the fund lowers? Will the retiree's have to take a reduction in benefits like has happened in other communities due to funds not being funded properly?
How about if I sent in 92% of my tax bill...would that be acceptable to the city?
This is an irresponsible course of action.
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