Allegheny County is facing a major financial crisis. The pension system is seriously underfunded, and massive infusions of cash are needed now to prevent it from being depleted.
After years of kicking the can down the road, a new report coming out on Thursday says the bill has come due at $1.4 billion. The county will need to come up with an additional $100 million per year for the next 20 years to fix it.
The report by Allegheny County Treasurer Erica Rocchi Brusselars says the pension needs this large stream of new revenue to stay solvent. Unfortunately, there are few good options. And the report is pointing at the taxpayer to help…