Wednesday, December 11, 2013
Ferraro Sole No Vote On Retiree COLAs
Before the election, Northampton County Council member Peg Ferraro was one of the few Republicans at a luncheon for NorCo government retirees. But last week, at a retirement board meeting, she was the sole No vote on a cost of living adjustment for county retirees. There was no press coverage, so few people would know this until now.
Her rationale was that nobody else is getting a COLA.
The County's pension fund, which has doubled since 2008, is why they are getting a COLA. It is one of the top performing funds in the state.
Ferraro also lobbied to have the pension fund manager replaced with someone more to her own liking, even though he refuses to execute a County contract. That bothers me more than her No vote. You'll recall she also refused to give up the transportation contract with Nazareth Ambulance at Gracedale
Ferraro is in line to be Northampton County Council's next President.
Correction: Peg wants to replace the investment manager for the Hugh Moore Trust, not the Retirement Fund