District residents will have a chance Monday to weigh in on a bill that seeks to revamp the city’s pension system. Introduced by at-large Councilman David Catania, the legislation would restrict cost-of-living adjustments to the benefits of retired D.C. workers to no more than 3 percent and no less than 1 percent. The bill also requires lawmakers to be made aware of the costs to any legislation that creates a pension-related cost, and the costs of collective bargaining agreements.
Historically, the bulk of the city’s pension costs have been paid by the federal Treasury Department, but changes in the city’s relationship with the federal government have been putting more of the cost on the District’s tab. In 2007, the city paid $46 million into the pension fund. In 2011, it’s budgeted to spend $130 million.
“The time to fix problems with the pension is system is before you have problems with your pension system in the first place,” Catania said. A hearing on the bill is scheduled for 1 p.m. Monday in Room 500 of the John A. Wilson Building.
