Judge orders N.O. to pay Firefighters Pension Fund $17M - FOX 8, WVUE, fox8live.com, weather, app, news, saints

Judge orders N.O. to pay Firefighters Pension Fund $17M

A dire financial situation for the City of New Orleans appears to be turning much worse.

Civil District Court Judge Robin Giarrusso has ordered the city to cover its 2012 obligation to the New Orleans Firefighters Pension and Relief Fund, essentially telling the city to write a check for $17.5 million.  The March 29 order was made public Monday.

This comes on top of an estimated $10 million price tag the city faces for the NOPD consent decree and an estimated $22 million price tag for the Orleans Parish Prison consent decree.

The city has been withholding some payments to the Firefighters Pension Fund, telling the judge the fund has been mismanaged.

FOX 8 News outlined some problems with the fund during a series of reports that lead to state ethics charges for the fund CEO.

The Landrieu Administration told FOX 8 Monday evening, "Currently, the Firefighters Pension Fund is threatening the city's budget and is costing the taxpayers too much. The system is only 40 percent funded, has high administrative costs, is not properly managed and has made poor investment decisions."

The mayor says there are several bills filed this legislative session dealing with the NOFD pension that aim to make it more sustainable.   Landrieu's spokesperson says the city will push for a new trial in this case.

Powered by Frankly