Professional Documents
Culture Documents
March 7, 2017
Contacts:
Bob Philbin
717-580-9509
rphilbin@cattransit.com
Tony Johnson
tjohnson@cattransit.com
Eric Bugaile
ebugaile@gmail.com
(Harrisburg) CAT board of directors has long been aware of the 40-year old
executive pension situation raised by Cumberland County officials earlier today. The
current board directed an audit of the plan in the summer of 2016, which was
completed in January, 2017, and approved by the board in February 2017. The
board has also taken steps to freeze the pension plan.
If I could get rid of the plan today, I would, Tony Johnson, CAT General Manager,
said today.
The so called executive pension plan was established by the CAT board of directors
in 1977 to compensate key executive personnel formerly with Harrisburg Railways
who were not covered by an earlier employee pension plan established when CAT
was incorporated by Cumberland County, Dauphin County and the City of
Harrisburg in 1973.
There has been no cloud of mystery with this issue, Eric Bugaile Board Chairman
said today.
The plan has been included in CAT financial audits and operating budgets for
decades. The board of directors from all three jurisdictions have voted for the plan
repeatedly. Under my tenure as board chair all of CAT financials have been audited
without a single finding by the Auditors, and the board has voted repeatedly to
approve those audits and budgets.
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