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<o:shapedefaults v:ext="edit" spidmax="6146"/> </xml><![endif]--><!--[if gte mso 9]><xml> <o:shapelayout v:ext="edit"> <o:idmap v:ext="edit" data="1"/> </o:shapelayout></xml><![endif]--></head><body style="" lang="EN-US" link="blue" vlink="purple"> <div class="WordSection1"> <p><span style=""><img id="_x0000_i1037" src="ipensionTop.jpg" height="100" width="600"></span></p> <p><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Questions, comments, rants, etc:&nbsp;&nbsp;cbriem@gmail.com</span></p> <table class="MsoNormalTable" style="width: 70%;" border="0" cellpadding="0" width="70%"> <tbody><tr style="height: 750pt;"> <td style="padding: 0in; width: 71%; height: 750pt;" valign="top" width="71%"> <h2 style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Facts and Figures <o:p></o:p></span></h2> <h2 style="text-align: center;" align="center"><i style=""><span style="font-size: 14pt; font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;; font-weight: normal;"><span style="color: red; font-weight: bold;">New</span><span style="font-weight: bold;">:</span> 2013 Reports on the right sidebar <br> </span></i></h2> <h2 style="text-align: center;" align="center"><i style=""><span style="font-size: 14pt; font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;; font-weight: normal;">I will update tables/graphs below when I can.</span></i><span style=""><o:p></o:p></span></h2> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">All data reflects combined information for the 3 major pension plans of the City of Pittsburgh:&nbsp;Police, Fire and General <span class="SpellE">Municial</span> pension plans. </span><span style=""><o:p></o:p></span></p> <div align="center"> <table class="MsoNormalTable" style="width: 100%;" border="0" cellpadding="0" height="100%" width="100%"> <tbody><tr style=""> <td style="padding: 0in; width: 49.52%;" valign="top" width="49%"> <h4 style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Total Pension Liability</span><span style=""><o:p></o:p></span></h4> <h4 style="text-align: center;" align="center"><a href="http://www.briem.com/pension/ipension1.jpg"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;; text-decoration: none;"><img id="_x0000_i1036" src="ipension1.jpg" border="0" height="182" width="250"></span></a><span style=""><o:p></o:p></span></h4> <div align="center"> <table class="MsoNormalTable" style="width: 162.75pt;" border="0" cellpadding="0" cellspacing="0" width="217"> <tbody><tr style="height: 12.75pt;"> <td style="padding: 0in; width: 60.75pt; height: 12.75pt;" width="81"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1995</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 102pt; height: 12.75pt;" width="136"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$622,955,188</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 60.75pt; height: 12.75pt;" width="81"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1997</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 102pt; height: 12.75pt;" width="136"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$667,753,390</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 60.75pt; height: 12.75pt;" width="81"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1999</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 102pt; height: 12.75pt;" width="136"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$685,248,322</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 60.75pt; height: 12.75pt;" width="81"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2001</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 102pt; height: 12.75pt;" width="136"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$712,978,251</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 60.75pt; height: 12.75pt;" width="81"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2003</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 102pt; height: 12.75pt;" width="136"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$765,763,493</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 60.75pt; height: 12.75pt;" width="81"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2005</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 102pt; height: 12.75pt;" width="136"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$843,382,550</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 60.75pt; height: 12.75pt;" width="81"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2007</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 102pt; height: 12.75pt;" width="136"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$899,248,578</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 60.75pt; height: 12.75pt;" width="81"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2009</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 102pt; height: 12.75pt;" width="136"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$989,532,948</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 60.75pt; height: 12.75pt;" width="81"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2011<o:p></o:p></span></p> </td> <td style="padding: 0in; width: 102pt; height: 12.75pt;" width="136"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$1,012,027,241</span><span style="font-size: 11pt; font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;; color: black;"><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 60.75pt; height: 12.75pt;" width="81"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2013<o:p></o:p></span></p> </td> <td style="padding: 0in; width: 102pt; height: 12.75pt;" width="136"><br> </td> </tr> </tbody></table> </div> <p style="text-align: center;" align="center"><span style="font-size: 10pt; font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">As of January 1st of each year</span></p> </td> <td style="padding: 0in;" valign="top"> <h4 style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Total Pension Assets</span><span style=""><o:p></o:p></span></h4> <p style="text-align: center;" align="center"><a href="http://www.briem.com/pension/ipension2.jpg"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;; text-decoration: none;"><img id="_x0000_i1035" src="ipension2.jpg" border="0" height="200" width="250"></span></a></p> <div align="center"> <table class="MsoNormalTable" style="width: 152.25pt;" border="0" cellpadding="0" cellspacing="0" width="203"> <tbody><tr style="height: 12.75pt;"> <td style="padding: 0in; width: 52.5pt; height: 12.75pt;" width="70"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1995</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 105.75pt; height: 12.75pt;" width="141"> <p class="MsoNormal" style="text-align: right;" align="right"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$107,617,040</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 52.5pt; height: 12.75pt;" width="70"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1997</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 105.75pt; height: 12.75pt;" width="141"> <p class="MsoNormal" style="text-align: right;" align="right"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$156,974,756</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 52.5pt; height: 12.75pt;" width="70"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1999</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 105.75pt; height: 12.75pt;" width="141"> <p class="MsoNormal" style="text-align: right;" align="right"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$436,613,690</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 52.5pt; height: 12.75pt;" width="70"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2001</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 105.75pt; height: 12.75pt;" width="141"> <p class="MsoNormal" style="text-align: right;" align="right"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$423,058,432</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 52.5pt; height: 12.75pt;" width="70"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2003</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 105.75pt; height: 12.75pt;" width="141"> <p class="MsoNormal" style="text-align: right;" align="right"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$312,470,965</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 52.5pt; height: 12.75pt;" width="70"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2005</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 105.75pt; height: 12.75pt;" width="141"> <p class="MsoNormal" style="text-align: right;" align="right"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$373,608,407</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 52.5pt; height: 12.75pt;" width="70"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2007</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 105.75pt; height: 12.75pt;" width="141"> <p class="MsoNormal" style="text-align: right;" align="right"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$375,368,724</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 52.5pt; height: 12.75pt;" width="70"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2009<span style="">&nbsp; </span></span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 105.75pt; height: 12.75pt;" width="141"> <p class="MsoNormal" style="text-align: right;" align="right"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$339,179,908<o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 52.5pt; height: 12.75pt;" width="70"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2011*<o:p></o:p></span></p> </td> <td style="padding: 0in; width: 105.75pt; height: 12.75pt;" width="141"><br> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 52.5pt; height: 12.75pt;" width="70"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2013*<o:p></o:p></span></p> </td> <td style="padding: 0in; width: 105.75pt; height: 12.75pt;" width="141"><br> </td> </tr> </tbody></table> </div> <p style="text-align: center;" align="center"><span style="font-size: 10pt; font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">* Includes 'parking asset'</span></p> <p style="text-align: center;" align="center"><span style="font-size: 10pt; font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">As of January 1st of each year. </span></p> </td> </tr> <tr style=""> <td style="padding: 0in; width: 49.52%;" valign="top" width="49%"> <h4 style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Unfunded Liability</span><span style=""><o:p></o:p></span></h4> <h4 style="text-align: center;" align="center"><a href="http://www.briem.com/pension/ipension3.jpg"><span style="text-decoration: none;"><img id="_x0000_i1034" src="ipension3.jpg" border="0" height="150" width="250"></span></a><span style=""><o:p></o:p></span></h4> <div align="center"> <table class="MsoNormalTable" style="width: 166.5pt;" border="0" cellpadding="0" cellspacing="0" width="222"> <tbody><tr style="height: 12.75pt;"> <td style="padding: 0in; width: 75.75pt; height: 12.75pt;" width="101"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1995</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 96pt; height: 12.75pt;" width="128"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$515,338,148</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 75.75pt; height: 12.75pt;" width="101"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1997</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 96pt; height: 12.75pt;" width="128"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$510,778,634</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 75.75pt; height: 12.75pt;" width="101"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1999</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 96pt; height: 12.75pt;" width="128"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$248,634,632</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 75.75pt; height: 12.75pt;" width="101"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2001</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 96pt; height: 12.75pt;" width="128"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$289,919,819</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 75.75pt; height: 12.75pt; text-align: center;" width="101"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2003</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 96pt; height: 12.75pt;" width="128"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$453,292,528</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 75.75pt; height: 12.75pt; text-align: center;" width="101"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2005</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 96pt; height: 12.75pt;" width="128"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$469,774,143</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 75.75pt; height: 12.75pt; text-align: center;" width="101"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2007</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 96pt; height: 12.75pt;" width="128"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$523,879,854</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 75.75pt; height: 12.75pt; text-align: center;" width="101"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2009</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 96pt; height: 12.75pt;" width="128"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$650,353,040</span><span style=""><o:p></o:p></span></p> </td> </tr><tr> <td style="vertical-align: top; text-align: center;"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2011</span></td> <td style="vertical-align: top;"><br> </td> </tr> <tr> <td style="vertical-align: top; text-align: center;"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2013</span></td> <td style="vertical-align: top;"><br> </td> </tr> </tbody></table> </div> <p style="text-align: center;" align="center"><span style="font-size: 10pt; font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">As of January 1st of each year</span></p> </td> <td style="padding: 0in;" valign="top"> <h4 style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Total Monthly Pension Expenditures</span><span style=""><o:p></o:p></span></h4> <h4 style="text-align: center;" align="center"><a href="http://www.briem.com/pension/ipension4.jpg"><span style="text-decoration: none;"><img id="_x0000_i1033" src="ipension4.jpg" border="0" height="150" width="250"></span></a><span style=""><o:p></o:p></span></h4> <div align="center"> <table class="MsoNormalTable" style="width: 146.25pt;" border="0" cellpadding="0" cellspacing="0" width="195"> <tbody><tr style="height: 15pt;"> <td style="padding: 0in; width: 63.75pt; height: 15pt;" width="85"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1997</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 82.5pt; height: 15pt;" width="110"> <p class="MsoNormal" style="text-align: right;" align="right"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$56,063,554</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in; height: 15pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1999</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 82.5pt; height: 15pt;" width="110"> <p class="MsoNormal" style="text-align: right;" align="right"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$55,427,384</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in; height: 15pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2001</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 82.5pt; height: 15pt;" width="110"> <p class="MsoNormal" style="text-align: right;" align="right"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$53,252,121</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in; height: 15pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2003</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 82.5pt; height: 15pt;" width="110"> <p class="MsoNormal" style="text-align: right;" align="right"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$54,368,709</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 15.75pt;"> <td style="padding: 0in; height: 15.75pt; text-align: center;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2005</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 82.5pt; height: 15.75pt;" width="110"> <p class="MsoNormal" style="text-align: right;" align="right"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$62,241,932</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in; height: 15pt; text-align: center;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2007</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 82.5pt; height: 15pt;" width="110"> <p class="MsoNormal" style="text-align: right;" align="right"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$76,863,862</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in; height: 15pt; text-align: center;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2009<o:p></o:p></span></p> </td> <td style="padding: 0in; width: 82.5pt; height: 15pt;" width="110"><br> </td> </tr><tr> <td style="vertical-align: top; text-align: center;"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2011</span></td> <td style="vertical-align: top;"><br> </td> </tr> <tr> <td style="vertical-align: top; text-align: center;"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2013</span></td> <td style="vertical-align: top;"><br> </td> </tr> </tbody></table> </div> </td> </tr> <tr style=""> <td style="padding: 0in; width: 49.52%;" valign="top" width="49%"> <h4 style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Funding Ratio by Year</span><span style=""><o:p></o:p></span></h4> <h4 style="text-align: center;" align="center"><a href="http://www.briem.com/pension/ipension5.jpg"><span style="text-decoration: none;"><img id="_x0000_i1032" src="ipension5.jpg" border="0" height="150" width="250"></span></a><span style=""><o:p></o:p></span></h4> <div align="center"> <table class="MsoNormalTable" style="width: 116.25pt;" border="0" cellpadding="0" cellspacing="0" width="155"> <tbody><tr style="height: 12.75pt;"> <td style="padding: 0in; width: 58.5pt; height: 12.75pt;" width="78"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1995</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 57.75pt; height: 12.75pt;" width="77"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">17.3%</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1997</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">23.5%</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1999</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">63.7%</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2001</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">59.3%</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2003</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">40.8%</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2005</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 57.75pt; height: 12.75pt;" width="77"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">44.3%</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2007</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 57.75pt; height: 12.75pt;" width="77"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">41.7%</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2009</span><span style=""><o:p></o:p></span></p> </td><td style="padding: 0in; width: 57.75pt; height: 12.75pt;" width="77"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">34.3%</span><span style=""><o:p></o:p></span></p> </td></tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; height: 12.75pt;"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2011</span></td> <td style="padding: 0in; width: 57.75pt; height: 12.75pt;" width="77"><br> </td> </tr><tr> <td style="vertical-align: top;"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2013</span></td> <td style="vertical-align: top;"><br> </td> </tr> </tbody></table> </div> <p style="text-align: center;" align="center"><span style="font-size: 10pt; font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">As of January 1st of each year</span></p> </td> <td style="padding: 0in;" valign="top"> <h4 style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Funding Ratio by Plan</span><span style=""><o:p></o:p></span></h4> <p class="MsoNormal" style="text-align: center;" align="center"><!--[if gte vml 1]><v:shapetype id="_x0000_t75" coordsize="21600,21600" o:spt="75" o:preferrelative="t" path="m@4@5l@4@11@9@11@9@5xe" filled="f" stroked="f"> <v:stroke joinstyle="miter"/> <v:formulas> <v:f eqn="if lineDrawn pixelLineWidth 0"/> <v:f eqn="sum @0 1 0"/> <v:f eqn="sum 0 0 @1"/> <v:f eqn="prod @2 1 2"/> <v:f eqn="prod @3 21600 pixelWidth"/> <v:f eqn="prod @3 21600 pixelHeight"/> <v:f eqn="sum @0 0 1"/> <v:f eqn="prod @6 1 2"/> <v:f eqn="prod @7 21600 pixelWidth"/> <v:f eqn="sum @8 21600 0"/> <v:f eqn="prod @7 21600 pixelHeight"/> <v:f eqn="sum @10 21600 0"/> </v:formulas> <v:path o:extrusionok="f" gradientshapeok="t" o:connecttype="rect"/> <o:lock v:ext="edit" aspectratio="t"/> </v:shapetype><v:shape id="Picture_x0020_1" o:spid="_x0000_i1025" type="#_x0000_t75" alt="ipension13.jpg" href="ipension13.jpg" style='width:162.75pt;height:118.5pt; visibility:visible;mso-wrap-style:square;mso-left-percent:-10001; mso-top-percent:-10001;mso-position-horizontal:absolute; mso-position-horizontal-relative:char;mso-position-vertical:absolute; mso-position-vertical-relative:line;mso-left-percent:-10001; mso-top-percent:-10001' o:button="t"> <v:fill o:detectmouseclick="t"/> <v:textbox style='mso-rotate-with-shape:t'/> </v:shape><![endif]--><!--[if !vml]--><span style=""><img src="iPension%20%20City%20of%20Pittsburgh%20Pension%20System%20Information_files/image001.gif" alt="ipension13.jpg" title="" v:shapes="Picture_x0020_1" border="0" height="158" width="217"></span><!--[endif]--><span style=""><o:p></o:p></span></p> </td> </tr> <tr style=""> <td style="padding: 0in; width: 49.52%;" valign="top" width="49%"> <h4 style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Annual Administrative Expenses</span><span style=""><o:p></o:p></span></h4> <h4 style="text-align: center;" align="center"><span style=""><img id="_x0000_i1031" src="ipension7.jpg" border="0" height="148" width="250"></span><span style=""><o:p></o:p></span></h4> <div align="center"> <table class="MsoNormalTable" style="width: 129.75pt;" border="0" cellpadding="0" cellspacing="0" width="173"> <tbody><tr style="height: 15pt;"> <td style="padding: 0in; width: 48pt; height: 15pt;" width="64"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1997</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 81.75pt; height: 15pt;" width="109"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$1,657,994</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in; width: 48pt; height: 15pt;" width="64"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1999</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 81.75pt; height: 15pt;" width="109"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$2,081,771</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in; width: 48pt; height: 15pt;" width="64"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2001</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 81.75pt; height: 15pt;" width="109"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$2,416,402</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in; width: 48pt; height: 15pt;" width="64"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2003</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 81.75pt; height: 15pt;" width="109"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$1,988,514</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in; width: 48pt; height: 15pt;" width="64"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2005</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 81.75pt; height: 15pt;" width="109"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$2,350,477</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in; width: 48pt; height: 15pt;" width="64"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2007</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 81.75pt; height: 15pt;" width="109"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">$2,945,610</span><span style=""><o:p></o:p></span></p> </td> </tr> </tbody></table> </div> </td> <td style="padding: 0in;" valign="top"> <h4 style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">City's Minimum Municipal Obligation</span><span style=""><o:p></o:p></span></h4> <h4 style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><img id="_x0000_i1030" src="ipension8.jpg" border="0" height="148" width="250"></span><span style=""><o:p></o:p></span></h4> <div align="center"> <table class="MsoNormalTable" style="width: 147.75pt;" border="0" cellpadding="0" cellspacing="0" width="197"> <tbody><tr style="height: 12.75pt;"> <td style="padding: 0in; width: 66pt; height: 12.75pt;" width="88"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2003</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 81.75pt; height: 12.75pt;" width="109"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">18,861,329</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2005</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 81.75pt; height: 12.75pt;" width="109"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">32,092,082</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2007</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 81.75pt; height: 12.75pt;" width="109"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">37,979,302</span><span style=""><o:p></o:p></span></p> </td> </tr> </tbody></table> </div> </td> </tr> <tr style=""> <td style="padding: 0in; width: 49.52%;" valign="top" width="49%"> <h4 style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">State Pension Aide to Pittsburgh</span><span style=""><o:p></o:p></span></h4> <h4 style="text-align: center;" align="center"><span style="">Coming Soon<o:p></o:p></span></h4> </td> <td style="padding: 0in;" valign="top"> <h4 style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Active City Workers</span><span style=""><o:p></o:p></span></h4> <h4 style="text-align: center;" align="center"><span style=""><img id="_x0000_i1029" src="ipension10.jpg" border="0" height="150" width="250"></span><span style=""><o:p></o:p></span></h4> <div align="center"> <table class="MsoNormalTable" style="width: 154.5pt;" border="0" cellpadding="0" cellspacing="0" width="206"> <tbody><tr style="height: 12.75pt;"> <td style="padding: 0in; width: 32.25pt; height: 12.75pt;" width="43"><br> </td> <td style="padding: 0in; width: 38.25pt; height: 12.75pt;" width="51"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Fire</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 48pt; height: 12.75pt;" width="64"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Municipal</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; width: 0.5in; height: 12.75pt;" width="48"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Police</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1995</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">866</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2,564</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1,245</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1997</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">886</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2,316</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1,153</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1999</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">844</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2,293</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1,098</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2001</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">889</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2,287</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1,098</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2003</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">867</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2,352</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1,070</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2005</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">737</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1,819</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">804</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 32.25pt; height: 12.75pt;" width="43"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2007</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">622</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1,778</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">848</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in; width: 32.25pt; height: 12.75pt;" width="43"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2009<o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">642<o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1,783<o:p></o:p></span></p> </td> <td style="padding: 0in; height: 12.75pt;"> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">898<o:p></o:p></span></p> </td> </tr> </tbody></table> </div> <p class="MsoNormal" style="text-align: center;" align="center"><span style=""><br> </span><span style="font-size: 10pt;">Per Act 205 reports</span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style=""> <td style="padding: 0in; width: 49.52%;" valign="top" width="49%"><br> </td> <td style="padding: 0in;" valign="top"><br> </td> </tr> </tbody></table> </div> </td> <td style="padding: 0in; height: 750pt;" valign="top"> <h3 style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Act 205 Reports</span><span style=""><o:p></o:p></span></h3> <table class="MsoNormalTable" style="width: 100%;" border="0" cellpadding="0" width="100%"> <tbody><tr style=""> <td style="padding: 0.75pt;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1997</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0.75pt;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.briem.com/files/Pension_Act205_1997_Pittsburgh_Police.pdf" title="1997 City of Pittsburgh Act 205 Report - Police">Police</a><br> <a href="http://www.briem.com/files/Pension_Act205_1997_Pittsburgh_Fire.pdf" title="1997 City of Pittsburgh Act 205 Report - Fire">Fire </a><br> <a href="http://www.briem.com/files/Pension_Act205_1997_Pittsburgh_Municipal.pdf" title="1997 City of Pittsburgh Act 205 Report - Municipal">General Munic</a><a href="http://www.briem.com/files/Pension_Act205_1997_Pittsburgh_Municipal.pdf" title="1997 City of Pittsburgh Act 205 Report - Municipal">ipal </a></span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style=""> <td style="padding: 0.75pt;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">1999</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0.75pt;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.briem.com/files/Pension_Act205_1999_Pittsburgh_Police.pdf" title="1999 City of Pittsburgh Act 205 Report - Police">Police</a><br> <a href="http://www.briem.com/files/Pension_Act205_1999_Pittsburgh_Fire.pdf" title="1999 City of Pittsburgh Act 205 Report - Fire">Fire </a><br> <a href="http://www.briem.com/files/Pension_Act205_1999_Pittsburgh_Municipal.pdf" title="1999 City of Pittsburgh Act 205 Report - Municipal">General Municipal</a></span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style=""> <td style="padding: 0.75pt;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2001</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0.75pt;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.briem.com/files/Pension_Act205_2003_Pittsburgh_Police.pdf" title="2003 City of Pittsburgh Act 205 Report - Police">Police</a><br> <a href="http://www.briem.com/files/Pension_Act205_2001_Pittsburgh_Fire.pdf" title="2001 City of Pittsburgh Act 205 Report - Fire">Fire </a><br> <a href="http://www.briem.com/files/Pension_Act205_2001_Pittsburgh_Municipal.pdf" title="2001 City of Pittsburgh Act 205 Report - Municipal">General Municipal</a></span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style=""> <td style="padding: 0.75pt;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2003</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0.75pt;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.briem.com/files/Pension_Act205_1997_Pittsburgh_Police.pdf" title="1997 City of Pittsburgh Act 205 Report - Police">Police</a><br> <a href="http://www.briem.com/files/Pension_Act205_2003_Pittsburgh_Fire.pdf" title="2003 City of Pittsburgh Act 205 Report - Fire">Fire </a><br> <a href="http://www.briem.com/files/Pension_Act205_2003_Pittsburgh_Municipal.pdf" title="2003 City of Pittsburgh Act 205 Report - Municipal">General Municipal</a></span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style=""> <td style="padding: 0.75pt;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2005</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0.75pt;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.briem.com/files/Pension_Act205_2005_Pittsburgh_Police.pdf" title="2005 City of Pittsburgh Act 205 Report - Police">Police</a><br> <a href="http://www.briem.com/files/Pension_Act205_2005_Pittsburgh_Fire.pdf" title="2005 City of Pittsburgh Act 205 Report - Fire">Fire </a><br> <a href="http://www.briem.com/files/Pension_Act205_2005_Pittsburgh_Municipal.pdf" title="2005 City of Pittsburgh Act 205 Report - Municipal">General Municipal</a></span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style=""> <td style="padding: 0.75pt;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2007</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0.75pt;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.briem.com/files/Pension_Act205_2007_Pittsburgh_Police.pdf" title="2007 City of Pittsburgh Act 205 Report - Police">Police</a><br> <a href="http://www.briem.com/files/Pension_Act205_2007_Pittsburgh_Fire.pdf" title="2007 City of Pittsburgh Act 205 Report - Fire">Fire </a><br> <a href="http://www.briem.com/files/Pension_Act205_2007_Pittsburgh_Municipal.pdf" title="2007 City of Pittsburgh Act 205 Report - Municipal">General Municipal</a></span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style=""> <td style="padding: 0.75pt;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2009</span><span style=""><o:p></o:p></span></p> </td> <td style="padding: 0.75pt;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.briem.com/files/Pension_Act205_2009_Pittsburgh_Police.pdf" title="2007 City of Pittsburgh Act 205 Report - Police">Police</a><br> <a href="http://www.briem.com/files/Pension_Act205_2009_Pittsburgh_Fire.pdf" title="2007 City of Pittsburgh Act 205 Report - Fire">Fire </a><br> <a href="http://www.briem.com/files/Pension_Act205_2009_Pittsburgh_Municipal.pdf" title="2007 City of Pittsburgh Act 205 Report - Municipal">General Municipal</a></span><span style=""><o:p></o:p></span></p> </td> </tr> <tr style=""> <td style="padding: 0.75pt;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2011<o:p></o:p></span></p> </td> <td style="padding: 0.75pt;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.briem.com/files/Pension_Act205_2011_Pittsburgh_Police.pdf" title="2007 City of Pittsburgh Act 205 Report - Police">Police</a><br> <a href="http://www.briem.com/files/Pension_Act205_2011_Pittsburgh_Fire.pdf" title="2007 City of Pittsburgh Act 205 Report - Fire">Fire </a><br> <a href="http://www.briem.com/files/Pension_Act205_2011_Pittsburgh_Municipal.pdf" title="2007 City of Pittsburgh Act 205 Report - Municipal">General Municipal</a><o:p></o:p></span></p> </td> </tr> <tr style=""> <td style="padding: 0.75pt;"> <p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">2013<o:p></o:p></span></p> </td> <td style="padding: 0.75pt;"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.briem.com/files/Pension_Act205_2013_Pittsburgh_Police.pdf" title="2007 City of Pittsburgh Act 205 Report - Police">Police</a><br> <a href="http://www.briem.com/files/Pension_Act205_2013_Pittsburgh_Fire.pdf" title="2007 City of Pittsburgh Act 205 Report - Fire">Fire </a><br> <a href="http://www.briem.com/files/Pension_Act205_2013_Pittsburgh_Municipal.pdf" title="2007 City of Pittsburgh Act 205 Report - Municipal">General Municipal</a></span><p class="MsoNormal"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><o:p></o:p></span></p> </td> </tr> <tr style=""> <td style="padding: 0.75pt;"><br> </td> <td style="padding: 0.75pt;"><br> </td> </tr> </tbody></table> <h3 style="text-align: center;" align="center"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Links</span><span style=""><o:p></o:p></span></h3> <p><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.city.pittsburgh.pa.us/pension/index.html">Official City of Pittsburgh&nbsp;Pension Office Page</a></span></p> <p><a href="http://www.perc.state.pa.us/portal/server.pt/community/perc_home/2513"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Pennsylvania Public Employee Retirement Commission</span></a></p> <p><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.auditorgen.state.pa.us/department/info/pension/pensionprogram/2007AG385Introduction.pdf">Pennsylvania Act 205 Information</a></span></p> <p><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.auditorgen.state.pa.us/Department/Info/Pension/">Pennsylvania Auditor General Pension Auditing</a></span></p> <p><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.gasb.org/project_pages/postemployment_benefit_accounting_and_financial_reporting.html">GASB&nbsp;Postemployment Benefit Accounting and Financial Reporting Project Page</a></span></p> <p><a href="http://www.gasb.org/gasb43_45/index.html"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">GASB&nbsp;43/45 Resource Center</span></a></p> <p><a href="http://www.pensiontsunami.com/regions.php?type=state&amp;id=32"><span class="SpellE"><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">PensionTsunami</span></span><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"> Pennsylvania News</span></a></p> </td> </tr> </tbody></table> <h2><span style="">&nbsp;</span><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Actual City of Pittsburgh Pension Office Web Page:<br> </span></h2> <ul> <li> <h2><a href="http://www.city.pittsburgh.pa.us/pension/" target="_blank"><span></span></a><a>http://www.city.pittsburgh.pa.us/pension/</a></h2> </li> </ul> <h2><a href="http://www.city.pittsburgh.pa.us/pension/" target="_blank"><span> </span></a></h2> <p class="MsoNormal"><br> <span style=""><o:p></o:p></span></p> <h2><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Reports / Research <br> </span><span style=""><o:p></o:p></span></h2> <ul> <li style="font-family: Arial;"><a href="http://www.briem.com/files/Gleason2012.pdf">Examination of the City of Pittsburgh s Comprehensive Municipal Pension Trust Fund</a>, William G. Krieger, CPA/ABV/CFF, CFE, for the Intergovernmental Cooperation Authority, August 7, 2012</li> <li style="font-family: Arial;"><a href="http://www.briem.com/files/Pittsburgh_study_for%20PMRS%2011-02-10.pdf">City of Pittsburgh Retirement Systems Special Study on the Pennsylvania Municipal Retirement System s Integration of Administrative<br> Services</a> Projected Effective,&nbsp; January 1, 2011 Actuarial Valuation, Produced by Cheiron <br> </li> <li style="font-family: Arial;"><a href="http://www.briem.com/files/Pittsburgh_study_for%20PMRS%2011-02-10.pdf">Special Study on the Pennsylvania Municipal Retirement System's Integration of Administrative Services</a>. 2010</li> <li style="font-family: Arial;">Pension Plan Review, AON Consulting, for the Intergovernmental Cooperation Authority - May 2004<br> </li> <li style="font-family: Arial;"><a href="http://www.gfoa.org/downloads/GFRJune03.pdf">Risky Business?&nbsp;Evaluating the Use of Pension Obligation Bonds</a>. <span style="font-style: italic;">Government Finance Review</span>, June 2003. Jim Burnham.</li> <li style="font-family: Arial;">City of Pittsburgh <a href="http://www.briem.com/files/PittsburghPensionTrust2000.pdf">Comprehensive Municipal Pension Trust Funds, Annual Report, December 31, 2000</a>.</li> <li style="font-family: Arial;"><a href="http://www.allbusiness.com/technology/internet-technology/695641-1.html">Municipal bond sales via the Internet: the story of Pittsburgh's electronic auction</a>. <span style="font-style: italic;">Government Finance Review</span>, August 1, 1998.</li> <li style="font-family: Arial;"><a href="http://www.iop.pitt.edu/documents/report/Pensions%20Report%20Combined.pdf">What to do about municipal pensions</a>. &nbsp;April 2009. University of Pittsburgh, Institute of Politics, Pensions Subcommittee</li> <li style="font-family: Arial;"><a href="http://www.auditorgen.state.pa.us/Reports/Pension/munCityofPittsburghCompMunPenTrust042909.pdf">City of Pittsburgh Comprehensive Municipal Pension&nbsp;Trust Fund</a>. &nbsp;Auditor General <br> </li> <li style="font-family: Arial;">Pennsylvania Department of <span class="SpellE">Communtiy</span> and Economic Development. &nbsp;<a href="http://www.newpa.com/get-local-gov-support/publications/download.aspx?id=326">Municipal Pension Handbook</a>.</li> <li style="font-family: Arial;">Official Statement <a href="http://www.briem.com/files/1998bondPittsburghABC.pdf">City of Pittsburgh 1998ABC&nbsp;General Obligation Bond </a>(Pension Bond)</li> <li><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a style="font-family: Arial;" href="http://www.briem.com/files/PittsburghPensionRestructuring.pdf">City of Pittsburgh Proposed Pension&nbsp;Restructuring</a><span style="font-family: Arial;">, August 2, 1996.</span> </span><span style=""><o:p></o:p></span></li> </ul> <h2><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Selected (mostly historical) News Coverage</span><span style=""><o:p></o:p></span></h2> <ul> <li><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://news.google.com/newspapers?id=POINAAAAIBAJ&amp;sjid=O20DAAAAIBAJ&amp;dq=pittsburgh%27s%20wasting%20disease&amp;pg=6353%2C20968">Pittsburgh's Wasting Disease</a>, <span style="font-style: italic;">Pittsburgh Post-Gazette</span>, August 1, 1978</span></li> <li><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="%28EmptyReference%21%29" target="http://news.google.com/newspapers?id=LewNAAAAIBAJ&amp;sjid=zG0DAAAAIBAJ&amp;dq=ailing%20municipal%20pension%20funds%20studied&amp;pg=4031%2C3951330">Ailing Municipal Pension Funds Studied</a>, <span style="font-style: italic;">Pittsburgh Post-Gazette</span>, October 27, 1979</span></li> <li><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://news.google.com/newspapers?id=pt0NAAAAIBAJ&amp;sjid=_20DAAAAIBAJ&amp;dq=pittsburgh%20public-pension-woes&amp;pg=5852%2C262815">Public Pension Woes</a>, <span style="font-style: italic;">Pittsburgh Post-Gazette</span>, August 4, 1980</span></li> <li><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://news.google.com/newspapers">Council Approves Reform of City Pension System</a>, <span style="font-style: italic;">Pittsburgh Post-Gazette</span>, November 2, 1982.&nbsp;</span></li> <li><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="%28EmptyReference%21%29" target="http://news.google.com/newspapers?id=DQQOAAAAIBAJ&amp;sjid=1m0DAAAAIBAJ&amp;pg=5664%2C9439144">Council <span class="SpellE">Adpots</span> Pension&nbsp;formula</a>, <span style="font-style: italic;">Pittsburgh Post-Gazette</span>, 1987</span></li> <li><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://news.google.com/newspapers?id=MOINAAAAIBAJ&amp;sjid=0G8DAAAAIBAJ&amp;dq=city-of-pittsburgh%20pension%20liability&amp;pg=6756%2C1780468">Murphy Urges Pension&nbsp;Fund Solution</a>. April 19, 1997.&nbsp;</span></li> <li><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="%28EmptyReference%21%29" target="http://news.google.com/newspapers?id=gYMNAAAAIBAJ&amp;sjid=R28DAAAAIBAJ&amp;dq=pittsburgh%20post-gazette&amp;pg=5702%2C4412555">Council, Mayor, review City's Pension Fund</a>. &nbsp;<span style="font-style: italic;">Pittsburgh Post-Gazette</span>, January 28, 1998.&nbsp;</span></li> <li><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://news.google.com/newspapers?id=fIYNAAAAIBAJ&amp;sjid=l28DAAAAIBAJ&amp;dq=pittsburgh%20pension%20plan%20rescue%20gets%20extension&amp;pg=6632%2C5573517">Pension Plan Rescue gets extension</a>, <span style="font-style: italic;">Pittsburgh Post-Gazette</span>, June 17, 1998.&nbsp;</span></li> <li><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.nytimes.com/2003/10/12/us/states-and-cities-risk-bigger-losses-to-fund-pensions.html?pagewanted=all">States and cities risk bigger losses to fund pensions</a> By Mary Williams Walsh , <span style="font-style: italic;">New York Times</span>, October 12, 2003</span></li> <li><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://pittsburgh.bizjournals.com/pittsburgh/stories/2006/02/20/story2.html">Cities Start Adding Up Retiree Cost</a>. <span style="font-style: italic;">Pittsburgh Business Times</span>, February 17, 2006<o:p></o:p></span></li> <li><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.post-gazette.com/pg/06143/692387-53.stm">Underfunded pensions drain city budget</a>, <span style="font-style: italic;">Pittsburgh Post-Gazette</span>, May 23, 2006</span></li> <li><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.pittsburghcitypaper.ws/gyrobase/Content?oid=oid%3A54454">Mapping Out a Crisis:&nbsp;Where do city pension dollars wind up</a>. <span style="font-style: italic;">Pittsburgh City Paper</span>, October 30, 2008<o:p></o:p></span></li> <li><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.pittsburghlive.com/x/pittsburghtrib/news/s_603279.html">City's pay-as-you-go budget earns OK, grumbles</a>, <span style="font-style: italic;">Pittsburgh Tribune Review</span>, December 17, 2008</span></li> <li><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.pittsburghlive.com/x/pittsburghtrib/news/pittsburgh/s_640429.html">Finance director: Pittsburgh's pension liabilities could top $1 billio</a>n . <span style="font-style: italic;">Pittsburgh Tribune Review</span>, August 28, 2009 <o:p></o:p></span></li> <li><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.post-gazette.com/pg/10084/1045520-53.stm">City s loss in EMS pension case could spur others</a>, <span style="font-style: italic;">Pittsburgh Post-Gazette</span>, March 25, 2010</span></li> <li><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;"><a href="http://www.bizjournals.com/pittsburgh/print-edition/2011/08/26/pittsburgh-pension-loses-out-on-millions.html?page=all">Pittsburgh Pension loses out on millions</a>, <span style="font-style: italic;">Pittsburgh Business Times</span>, Kris Mamula, August 6, 2011</span></li> <li><span style="font-family: &quot;Helvetica&quot;,&quot;sans-serif&quot;;">Stocks Stocks can't fix Pittsburgh's pension system fiscal woes, experts warn, Pittsburgh Tribune Review, Bob Bauder<br> <br> <br> </span></li> </ul> <div> <p class="MsoNormal"><script type="text/javascript"> var sc_project=5095545; var sc_invisible=1; var sc_partition=58; var sc_click_stat=1; var sc_security="03fc7fec"; </script><a href="http://www.statcounter.com/drupal/" title="&quot;drupal hit counter&quot; t "><span style="text-decoration: none;"><img id="_x0000_i1028" src="http://c.statcounter.com/5095545/0/03fc7fec/1/" alt="drupal hit counter" border="0" height="1" width="1"></span></a><span style=""><o:p></o:p></span></p> </div> </div> <!-- End of StatCounter Code --> </body></html>