The city of Prichard is having problems funding its fire fighters pensions and retirement that their fire fighters have worked all their careers to receive. Recently the city of Prichard has had problems paying retirees pensions.

The city has filed bankruptcy for financial woes in the past and now again are considering filing for bankruptcy. The city officials are looking into filing for a restructuring or re-organization bankruptcy. The pension board has agreed to move funds that were going into an equities market and take that money out and put into a safer fund.
 

The Prichard pension board and its budget has an reserve of about $ 700,000 and the Prichard fire fighters have many questions concerning how this reserve will be spent.
At least 50 retirees are considering filing a law suit to sue the city of Prichard concerning their pension and retirement money.
 

These Prichard fire fighters have paid their dues to the city of Prichard and now it is time for the city of Prichard to pay these retirees a full pension.

Click on the link below to see more of what's goings on with Prichard.

http://http://www.wkrg.com/financial/article/could_some_area_workers_lose_their_pensions/24401/Mar-12-2009_10-05-pm/