New Bedford’s pension obligations: a monster lurking in city budget - The New Bedford Light

New Bedford’s pension obligations: a monster lurking in city budget - The New Bedford Light

One expense in New Bedford’s city government costs more than the police department, the fire department, or the parks department — but the majority of its dollars contribute nothing to city services or quality of life.Decades of unfunded pensions are forcing New Bedford to catch up on its obligations — spending tens of millions every year on the pensions of already retired employees. At the same time, the city has to keep funding the pensions of…