Reed Names Head of New Pension Panel

By Odette Yousef

Atlanta, GA – The former publisher of the Atlanta Journal-Constitution will head a new pension review task force under Atlanta mayor-elect Kasim Reed. Reed called the city's rapidly-growing pension liability a "crisis," and said he'll move on a solution to curb it within two months of taking office.

WABE's Odette Yousef reports.

John Mellott will chair the panel. He was clear about what the group will not be doing.

MELLOTT: It will not audit the past performance of the pension, and it will not look backward, it will look forward.

Mellott said the panel will research and offer options to Reed, who, ultimately, will make the decision.

Currently, Atlanta guarantees defined retirement benefits to police, firefighters, and general employees, but that consumes one out of every five dollars of the general fund. Reed said that if the obligation continues to grow as it has, the liability will increase from $100 million to $175 million in the next 8 years.

Mellott has also been a senior executive at Cox Communications, and is a certified public accountant.

Odette Yousef, WABE News.