Tuesday, May 17, 2005 | The District Attorney’s Office is scheduled to announce today felony conflict-of-interest charges against six current and former pension board members for their role in a 2002 deal at the heart of the city’s financial and political woes.
In the deal, the pension board – dominated by union members – allowed the city to contribute hundreds of millions of dollars less into its pension system in exchange for increased benefits for union members. Some of the enrichments granted narrowly benefited specific pension board members.
Three former pension board members who held key management positions in city ranks have resigned or been placed on administrative leave in recent days. A fourth top city manager also resigned.
Read Voice’s explanation of the investigation.
– ANDREW DONOHUE, Voice Political Writer