No pension contribution hike, Regina committee says

The executive committee of Regina city council has voted against increasing employer contributions to the civic employees pension plan, which has a shortfall of $238 million.

Instead, the committee is recommending the city find another way to address the funding issue.

"Our employees and our taxpayers have a financial limit," Pat Fiacco, the mayor of Regina, said after the vote. "And I think we're exceeding that."

Fiacco added he believes the city's pension plan has been in need of change for years.

"And we're finally at the point that we are going to fix this ongoing problem here in the city of Regina in respect to a pension plan that has not been sustainable," Fiacco said.

Representatives of city employees addressed the committee and said they were prepared to meet and negotiate a funding solution.

The issue must still go to a meeting of Regina city council, although all members of council are also members of the executive committee.