A state agency wants to hasten an important analysis of Pittsburgh's pension fund, saying it needs to know as soon as possible whether the plan was adequately funded on Dec. 31 or was headed for a state takeover.

Under state law, the city's pension fund had to be 50 percent funded by that date to avoid a takeover. In last-minute action Dec. 31, Pittsburgh City Council attempted to meet the requirement with $45 million cash and the "net present value" of $735.7 million in parking tax revenues that will be dedicated to the fund over 31 years.

If the 50 percent target was missed after all, the responsibility of taking over the fund will fall to the Pennsylvania Municipal Retirement System, which already oversees more than 900 municipal pension funds.

Jim Allen, secretary of the state municipal retirement system, said he wants the analysis of Pittsburgh's funding level completed as quickly as possible. His concerns are timing and logistics.

Under state law, Mr. Allen said, the city has until the end of August to provide its funding analysis to another state agency, the Public Employee Retirement Commission, which will need about two weeks to verify the city's analysis.

State law would require Mr. Allen to complete a takeover of the city fund by Oct. 31 -- but he said there's no way he can meet that deadline if the retirement commission's decision isn't available until mid-September. He said he needs months, not weeks, to get the job done.

Mr. Allen said his board has directed him to send a letter to city officials and the retirement commission, asking for a speeded-up review of the city's funding level. He said he hopes the city will gets its analysis to the retirement commission long before August.

City finance director Scott Kunka said the state already gives the city less time to analyze its pension funding level than it does other municipalities undertaking similar reviews. Although he's not yet heard from Mr. Allen, Mr. Kunka said the city must take its time and perform a careful evaluation of the fund's value.

Bill Urbanic, council budget director, said he remains confident that the city met the 50 percent funding requirement and avoided a pension takeover.