AB Pays 2B To Fund Pensions

"Taking care of this unfunded pension liability has been an issue that has been a source of concern and discussion at annual meetings for years. Frank Bruseker, head of the teachers' association, said, "Teachers were very pleased to see this finally resolved." The proposal would also give teachers a 3 per cent salary increase for 2007-2008, ties other yearly increases to an average weekly earnings index and provides a one-time, lump sum payment of $1,500. "The reason we're here today, I think, is because our members stood up and said to leadership candidates in the Conservative race last year, and to government MLAs, `This (pension fund) is a problem – government needs to fix it and let's get going.' So here's where we are today," Bruseker said. Thousands of teachers went on strike in 2002, prompting teacher rallies and angry letters to the Alberta government from parents. http://www.thestar.com/article/279664

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