A drop in real estate revenues after a reassessment and lowered rate of return assumptions for an employee pension fund have triggered a budget deficit in Pittsburgh, said a report by the city's financial-recovery consultants.

"The combined impact of the early 2013 actions related to the real estate tax and the late 2013 actions related to the employee pension fund is a negative $14 million swing in 2015," said the amended plan filed by consulting firm Public Financial Management Inc. and law firm Eckert Seamans Cherin & Mellott LLC.

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