After Years of Debate, Atlanta Poised to Vote on Pension Reform
(AJC) — After years of struggle, including a week that saw some of Atlanta’s most intense internal political battles in years, the city is close to approving a plan to finally address its $1.5 billion pension shortfall. As early as Monday — if 10 crucial votes can be secured — the council could vote on pension reform. If it does, Atlanta would become one of a growing number of large American cities to come to terms with a financial crisis that also threatens the budgets of municipalities across the region. The plan, forged between Mayor Kasim Reed and a sometimes reluctant City Council, is expected to ease the city’s spending, avoid layoffs and maintain its pension for city workers, a demand that consumes about a fifth of the city’s annual budget.