It also makes annual contributions of £20m to its pension scheme to reduce the shortfall.
In the end an agreement was reached among five parties to reduce the shortfall.
The government's new legislation will, if successful, reduce that shortfall to 3.2%, a sum nearly as large as the entirety of today's state pension budget.
But its current mayor, Ronald K. Davis, never complied with an order from the bankruptcy court to begin paying $16.5 million into the pension fund to reduce its shortfall.
Facing a projected deficit of $300 million over the next three years, the county received a $105 million, five-year bailout from the state this year, with the provision that it reduce its shortfall by $70 million in 2001 and 2002 and $80 million in 2003.
And these are all Republicans.Every state except Vermont requires itself to balance its books, and most are currently meeting several in unprecedented emergency sessions to reduce the shortfall.
The initiative is one of many efforts by the tech industry to reduce the shortfall of engineering talent that most of them say is a serious problem for their businesses.
"The department has been doing everything possible to reduce this shortfall while ensuring we can defend the nation, sustain wartime operations and preserve D.o.D.'s most critical asset — our world-class civilian and military personnel," Mr. Hagel said.
A22 SCIENCE/HEALTH $5 Billion Sought for Space The National Aeronautics and Space Administration needs up to $5 billion more than previously budgeted to operate the space shuttle before the program ends in 2010, and the agency is looking for ways to reduce the shortfall, Michael D. Griffin, the agency administrator, said.
The local authority is facing an expected budget deficit of £25m and last week released plans to generate revenue in a bid to reduce the shortfall.
