City asked to fund $800K over-expenditure of police pension plan

The city is being asked to fund an $800,000 over-expenditure for the police pension plan.

The employer contribution rate for the pension increased slightly last year from 15.12 per cent to 15.63 per cent.

The city is being asked to cover the costs, even though the police service identified $3.6 million in additional revenue in 2015 from photo radar and savings in rent at the new headquarters.

A report says those funds can’t be used to offset the pension rate increase.

The Finance Committee will vote on the matter Friday.