Innamorato pushes back on Allegheny County pension crisis accusations in Pittsburgh
Allegheny County District Attorney Stephen Zappala has accused County Executive Sara Innamorato of ignoring concerns about an allegedly underfunded county employees’ pension fund, citing a $1.4 billion unfunded liability.
Innamorato responded to Zappala’s claims, stating that the issues surrounding the pension fund are longstanding and that her administration has taken steps to address them.
“Every pension meeting is public. And this has been. wwe have a new pension board that was sat at the beginning of my administration. We’ve taken this very seriously. We have brought in experts to analyze the pension, see where we’re at, see how we got here, and see how we actually solve it moving forward. Not just participating in political theater,” Innamorato said.
Zappala’s letter referenced a consultant’s report, which stated that for over two decades, insufficient funds have been allocated to the pension fund, resulting in $1.4 billion in unfunded pension liability.
“We have a long road ahead in order to repair the ‘kicking the can down the road’ damage done over two decades by the Retirement Board,” Zappala said in the letter. He also recommended that the county council and state legislature appoint independent oversight of the Retirement Board, “while considering new revenue streams, a new pension system, and a new unconflicted Retirement Board.”
Innamorato addressed Zappala’s remarks further, saying, “He’s someone who sat in office for more than two decades. I’ve been here for two and a half years, and we have done a tremendous amount of work to increase the transparency and accountability of the pension board and will continue to do so as a member, as one of seven members of the pension board.”
Acting County Controller Amy Weise Clements also commented on the situation. “The serious financial difficulties facing the pension fund have been called out by the Controller’s office for many years. The recent report by an independent consultant retained by a working group of the Retirement Board represents an unvarnished and comprehensive look at both the internal and external factors that got us here. I believe that new leadership on the Retirement Board is committed to thoughtfully addressing issues that have gone unaddressed for too long,” Weise Clements said.