Valley View Pension Concerns
By: Kevin Flanigan
Updated: December 18, 2012
HOLLIDAYSBURG, BLAIR COUNTY - As Blair County Officials move toward putting the County's Valley View nursing home up for sale, some county officials say the move would be the best way to address a looming pension crisis.
In a report released on Tuesday at the Blair County Commissioners meeting, the numbers point to a deep financial hole that County taxpayers will have to cover.
A good part of the weekly meeting was devoted to the potential terms of sale for their Valley View under consideration by the board of commissioners. There was a large crowd of long time valley view workers on hand for the session.
A good part of the weekly meeting was devoted to the potential terms of sale for their Valley View under consideration by the board of commissioners. There was a large crowd of long time valley view workers on hand for the session.
According to information released by the county, Valley View pensions are a huge financial obligation County taxpayers will eventually have to cover. The nearly three hundred workers at the home carry an unfunded pension liability of nearly $10 million for the County.
The pension responsibility is one reason why some county officials say there will be no profit from selling the homes. Terms of a Valley View sale maybe finalized on Thursday when the Blair Commissioners expect to vote on a request for proposals and agreements of sale to be circulated to interested buyers.
