Please take a look at this information. This is the presentation that was done at the Pension Committee meeting last week that I and a few others attended. There is alot of information in this document regarding passt history and the different options being looked at etc. The committee will make a recommendation to the full BOMA in regards to what they feel is the best option in the near future. Please take time to review this. It will not only affect future fire department employees but it could affect you if you so desired to change retirement plans.

Russ Truell painted quite a picture of doom and gloom to BOMA and the committee about how much the 25 and out plan has cost the city so much money and is a big reason why employees are not receiving pay raises as well as other benefits. There are 6 options on the table with one of them not being considered because it doesn't involve any change. We are being punished because the BOMA who voted to go with the 25 and out plan back in 2002 failed to accurately research the future costs of the plan. Our Local has been asked to provide feedback on the different options. Look at the online voting and vote for the option you think is best for the employee, keeping in mind the plan must be financially stable for the city in the future.

I will start meeting with members of BOMA on Thursday July 29 to discuss these issues as well as others such as the Sunset Clause that is up for renewal in June 2011 and the SAFER grant that our administration is not willing to apply for or support. There are many things we are working to resolve and work towards accomplishment in but we will need your help as well. This help may be as simple as showing up to a committee meeting so that BOMA can see we do care about the future well being of our fire department and the city.

Pension Plan Condition Forecast and Options for July 21-ESS.pdf