Secretary of PMRS James B. Allen’s Statement to Pittsburgh City Council

Below is an excerpt from the opening statement by James B. Allen, Secretary of the Pennsylvania Municipal Retirement System, to Pittsburgh City Council on October 14, 2010.

You can click here to read his entire presentation to Council.

Good morning members of council and thank you for your very kind invitation to be here this morning. We welcome the opportunity to present our agency to council and more importantly to address your questions relating to what is being referred to in the media as “The State Option.” For the record, allow me to introduce myself and our agency’s Assistant Secretary. As you can assume, I am Jim Allen, Secretary of the Pennsylvania Municipal Retirement System or PMRS as we refer to ourselves. The secretary is the Chief Administrative Officer of the agency and I have had the privilege of serving our governing Board in that capacity since September of 1984. Our Assistant Secretary, Kristine Cline is with me this morning and while she has not been in that capacity for as long as I, she also started with out agency in 1984. A more direct way of making our point is that sitting before you is over fifty years of PMRS history and experience.

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One Response to “Secretary of PMRS James B. Allen’s Statement to Pittsburgh City Council”

Robert Bailie Says:
December 15th, 2010 at 8:36 pm

Mr. Peduto, thanks for posting the PMRS presentation. I learned quite a bit about this crisis from it. Do I understand correctly that unless 200-300 million dollars is added to the plans that they will assume responsibility for the plans ? I may be missing something, but what is the down side or is there one ? I’m not a banker but isn’t the most important thing to stop the bleeding, that is to change the plans for new hires ? I really don’t know your position on this, but it will never go away until that happens. Again, thanks for taking the time to post the presentation.
Hutch