Monday, May 4, 2015

PICA Clarifies Katz Remarks on Pension Fund

The Pennsylvania Intergovernmental Cooperation Authority just put out a statement, saying that Board Chairman Sam Katz's remarks yesterday about possible selling a city asset to help the underfunded pension plan were not made on behalf of the board.

PICA Clarifies Katz Remarks on Pension Fund

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The Pennsylvania Intergovernmental Cooperation Authority just put out a statement, saying that Board Chairman Sam Katz's remarks yesterday about possible selling a city asset to help the underfunded pension plan were not made on behalf of the board.

Here's the release:

PICA Board Clarification Regarding Sam Katz Statements on City Asset Sales

In discussion with reporters following the PICA Board meeting on July 26, 2011, PICA Board Chairman Sam Katz expressed his views that the City may have to consider selling certain assets, including the Philadelphia Airport and the Philadelphia Gas Works, as a means for paying down the unfunded pension liability. The opinions expressed by Mr. Katz represented his views and do not reflect the views of the PICA Board. The PICA Board has not discussed, deliberated, or made any recommendations regarding the sale of City assets.

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William Bender, a Drexel graduate who landed at the Daily News in 2007, has covered everything from South Philly mobsters to doomsday hucksters. He occasionally writes about local food trucks and always eats everything on his plate, whether it be a bloody rib eye or a corrupt politician. E-mail tips to benderw@phillynews.com
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David Gambacorta, has been a reporter with the Daily News since 2005, covering crime, police corruption and all of the other bizarre things that happen in Philadelphia. Now he’s covering the 2015 mayor’s race, because he enjoys a good circus just as much as the next guy. He’s always looking to get a cup of coffee. Send news tips and other musings on life to gambacd@phillynews.com
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