Citilink today presented its Pension Remediation Plan to state legislators, a report required after failing to meet required contribution levels in recent years.
John Metzinger, general manager and CEO of Fort Wayne's public transportation provider, presented the plan to the Interim Study Committee on Pension Management Oversight at the Statehouse.
Remediation plans are required when a public pension plan fails to reserve enough money in three of the previous five years, according to a news release.
Metzinger's report showed that although the money set aside to pay for future pension expenses fell short in some previous years, the contribution made last year met the required level. Doing so, Citilink said in the release, marked "substantial progress toward long-term compliance."
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