Petersburg behind on payments for employee retirement

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State officials say the cash-strapped city of Petersburg is more than $4.5 million behind in payments for its employees’ retirement fund.

Virginia Retirement System Director Patricia S. Bishop recently sent a letter to legislative leaders saying Petersburg owed VRS $4.51 million on Sept. 1, with $3.6 million more than 60 days past due.

Bishop said Petersburg was the only political subdivision to be more than 60 days behind in payments.

Petersburg financial troubles have been long-running and the city council recently voted last year to raise a variety of taxes to fill a $12 million budget gap.

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