The Macon General Employee Pension Board inched closer to a deal with the city Wednesday afternoon.
The city and board have been negotiating how quickly the city will repay the approximately $900,000 they owe the fund.
The pension board voted Wednesday to offer a payment plan in the form of a promissory note that would require Macon to pay $100,000 up front.
The city could choose to finance the rest over four years.
According to board member and city councilwoman Lauren Benedict, for about 11 months beginning in July of 2010 the city wasn't putting enough money into the fund.
The city initially offered pay the board no money upfront, in favor of financing the entire payment over five years.
But board members say some upfront money is required.