October 25, 2011 Current Site Visitors ->
Villaraigosa strong arms panel to lie
|Los Angeles Times -- October 24
Villaraigosa puts teeth into his stand on pension funds
Concerned about layoffs, the mayor seeks stronger influence over boards overseeing employees' benefits.
Worried about the prospects of a new round of budget cuts during his last two years in office, Los Angeles Mayor Antonio Villaraigosa has grown increasingly bold some say too aggressive --- in his attempts to influence panels that guide the city's huge retirement funds.
Two weeks ago, Villaraigosa warned a seven-member board overseeing pensions for civilian employees that a new round of layoffs would "almost certainly" occur if the panel scales back income projections for its $11-billion portfolio.
The week before, the mayor's lawyer called on the Fire and Police Pensions board to disregard a legal opinion on potentially costly health benefits owed to retired police officers and firefighters. And in recent months, Villaraigosa has removed two pension appointees who took positions or cast votes that he opposed.
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