LOS ANGELES : DWP Workers Jeer as Board Takes Up Pension Proposal
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Hundreds of workers at the Los Angeles Department of Water and Power jeered Thursday as the utility’s retirement board again grappled with Mayor Richard Riordan’s controversial plan to tap into the DWP pension fund.
Riordan hopes to free millions of dollars that now go to the pension plan by adopting less stringent accounting practices. He intends to divert some of that money to pay for more police.
The retirement board appeared deadlocked on whether to proceed with any changes. The mayor’s backers said they will seek to hire experts to review the pension’s finances. Employee members said they would not support such a move.
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