Allegheny County leaders are eyeing a potential sales tax increase to help pay for decades of bad investments that have left the county’s pension fund on the brink of insolvency, but they’ll need help from Harrisburg to make it happen.
In July, the county’s retirement board revealed the pension fund was $1.4 billion short, which was blamed on a series of bad private equity investments, overly optimistic returns on those investments and decisions by past board members to kick the can down the road.
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