I would like to provide our members with an update on the latest developments with Mayor Berke’s Pension Review Task Force. As many of you have heard, the Pension Board voted last week to provide some suggestions on where the Task Force should focus its efforts as they work to build consensus around potential modifications to our Pension Plan. While some may disagree with this decision, I believe it was a necessary step to help initiate a discussion with the Pension Task Force about possible reforms the Board believes will address the City’s concerns and protect this important retirement benefit for Police Officers, Firefighters and their families. To this point, this decision allowed our fund actuary, Rocky Joyner of Segal, to present this information to the Pension Task Force and answer their questions about actual solutions that will address the City’s concerns.
I realize many of you have questions about what the Pension Board shared with the Task Force. This is why I’m sharing the attached presentation that our Fund’s actuary presented to the Pension Task Force. This document outlines a series of considerations the Pension Task Force needs to consider when making their final recommendations that affect the lives of Firefighters, Police Officers and their families. Other recommendations discussed but not found in the presentation are the need for widows to receive a minimum benefit and our desire to provide better disability coverage for our catastrophically injured Firefighters and Police Officers.
In my opinion, this document details a series of reasonable, shared pension reforms that meet all of the broad goals set forth by Mayor on recruitment, retention and providing a dignified retirement for Firefighters and Police Officers in a responsible way to the taxpayer. Please remember that this information is not and will not be the final recommendation from the Pension Task Force. In providing this information, the Board only agreed to take first step of what will be many steps that the Pension Task Force will undertake in the coming weeks as they work to build a consensus around a solution that is comprehensive and shared by everyone – actives, retirees and the City.
I am sure many of you have questions about this document and its content. That is normal and to be expected as we are discussing a very complex, sensitive issue – one that affects everyone. After reviewing the document, I encourage you to attend the next Pension Board meeting at 9 a.m. on Oct. 17 and ask questions to the Board. If you are unable to attend the Board meeting, you can always contact one of your Board members to share your concerns or just give me a call at (423) 280-1789.
Thank you for your continued support and advocacy on this issue.
