Proposed ... Budget 1985
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Anticipating that the legislation would become law, CTA geared its 1984 budget process to meet the proposed statutory requirements. The following actions were independently taken by CTA and its employees to achieve the necessary budgetary results: $65.1 Million Pension Contribution Moratorium Savings During the fall of 1983 CTA and its unions negotiated an agreement forgiving the Authority of its obligation to make a currently estimated $65.1 million contribution to the CTA Retirement Plan for ...the period of June 1, 1983 to November 30, 1984. This is in addition to the $62.2 million of actual savings achieved under a similar 1982 pension agreement for the period of December 14, 1981 to May 31, 1983. The actual savings for State Fiscal 1984 was $44.1 million. The Fall, 1983 agreement also "modified" CTA's 1981 pension liability note, as statutorily required, by deferring payment until the start of 36 monthly installments beginning in January, 1985.
Prepared by CTA Intergovernmental Affairs for use with State and Federal Legislative bodies.
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To quickly assess the difficulty of the text, read a short excerpt:
Anticipating that the legislation would become law, CTA geared its 1984 budget process to meet the proposed statutory requirements. The following actions were independently taken by CTA and its employees to achieve the necessary budgetary results: $65.1 Million Pension Contribution Moratorium Savings During the fall of 1983 CTA and its unions negotiated an agreement forgiving the Authority of its obligation to make a currently estimated $65.1 million contribution to the CTA Retirement Plan for ...the period of June 1, 1983 to November 30, 1984. This is in addition to the $62.2 million of actual savings achieved under a similar 1982 pension agreement for the period of December 14, 1981 to May 31, 1983. The actual savings for State Fiscal 1984 was $44.1 million. The Fall, 1983 agreement also "modified" CTA's 1981 pension liability note, as statutorily required, by deferring payment until the start of 36 monthly installments beginning in January, 1985.
Prepared by CTA Intergovernmental Affairs for use with State and Federal Legislative bodies.
What to read after Proposed ... Budget 1985?
You can find similar books in the "Read Also" column, or choose other free books by Chicago Transit Authority to read onlineMoreLess
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