Innamorato Rebuts Zappala Over $1.4 Billion Pension Gap as Fund Faces 2043 Insolvency
Updated
Updated · WPXI Pittsburgh · Jul 31
Innamorato Rebuts Zappala Over $1.4 Billion Pension Gap as Fund Faces 2043 Insolvency
3 articles · Updated · WPXI Pittsburgh · Jul 31
Summary
Sara Innamorato accused District Attorney Stephen Zappala of "political theater," saying his four-page attack on the county pension fund offered no new information beyond already public findings.
Zappala had demanded independent oversight after blaming poor oversight and political decisions for the system's $1.4 billion unfunded liability, reviving a fight he first took to court two years ago.
A recent retirement board report sharpened the dispute by warning the fund could become insolvent by 2043 and needs an extra $100 million annually for two decades to recover.
Innamorato said a reconstituted pension board is working with outside experts on a fix and has begun reaching out to lawmakers in Harrisburg, though she gave no details.