By Brenna Angel
http://stream.publicbroadcasting.net/production/mp3/wuky/local-wuky-939218.mp3
LEXINGTON, Ky. – Outgoing Lexington Mayor Jim Newberry addressed his final meeting of the Police and Fire Pension Board Wednesday.
He said historically Urban County Government has not met its obligation to the Lexington Police and Fire pension fund, but that he worked with board members to change that. Newberry hopes the effort will continue when he leaves office.
"Somehow or other we have got to help our legislative delegation understand the severity of the long term problem and enlist their support."
Newberry also said the benefits structure must be changed for new hires within the Division of Police and Fire Department.
"If this city doesn't try to constrain the benefits in that fashion, this is going to continue to be a long term problem. As I think all of you know, the pension benefits for Lexington police officers and firefighters are greater than the pension benefits for any other local police officer or firefighter in the state."
Over the past two years, Lexington has infused $100 million into the fund. An actuary's report on the status of the pension board's unfunded liability is due next month.