Scranton Pension Audit Results From State AG

December 06, 2018 - 11:28 am

State Auditor General Eugene DePasquale had some good words for Scranton today. In a news release he said For the first time in years, the City of Scranton’s employee pension plans showed noticeable, across-the-board improvements, including stronger funding and reduced debt levels. He still cautioned that significant work remains to be done.  DePasquale warned all three pension plans are still severely distressed — less than 50 percent funded.

This stands in stark contrast to DePasquale’s earlier audits that showed the firefighters’ pension fund was perilously close to exhausting its funds and employees were double-dipping on pension benefits.

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