Where Candidates Stand On the Pension Crisis

Below is a summary of the Democratic mayoral candidates' plans for dealing with Philadelphia's pension crisis:

Lynne M. Abraham: "We would get rid of the high-priced financial people the city hires who are betting that the market is going to make a return greater than the market ever returns," she said. Fund managers were paid $31.5 million last year. Abraham would also get rid of the pension bonuses.

Nelson A. Diaz: "We can increase funding levels to 60 to 65 percent by management reform," he said. He wants the city's fund managers to have more experience.

James F. Kenney: "The bulk of pension reform has to come from labor contract negotiations," he said. He declined to specify what he would seek in those negotiations.

Doug Oliver: "The city needs to grow itself out of the [pension] problem by encouraging younger Philadelphians to stay in Philadelphia in order to increase the tax base, and by exploring all options including the sale of city assets to slowly solve our pension issues."

Anthony Hardy Williams: He would look to lease or privately manage city assets such as the airport and Water Department. "We would put those one- time pots of money toward our pension responsibility, therefore reducing the responsibility of the general fund to pay for it." He also wants to establish a municipal bank and use interest proceeds to alleviate city finances and the pension fund.

T. Milton Street Sr.: He would hire pension experts to suggest a solution.

More on the candidates' positions on Philadelphia's pension crisis and six other important issues at Philly.com's Next Mayor website: nextmayor.philly.com

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