Ferguson is currently the Town Manager of St. Stephen.
Andrew Beckett told the jury the city's pension plan had an estimated surplus of 29 million dollars at the end of 2000.
A year and a half later there was a significant deficit.
By 2003 there was the realisation that investment returns were so low, the plan would not get back on track by a rebound in the stock market alone.
Both Beckett and Councillor Chris Titus, a pension board member at the time, raised concerns over the cost of disability pensions and approvals.
Beckett says there was no reluctance to keep Common Council informed.
