Pension Board unanimously approves Chattanooga mayor's planned reforms

Chattnooga Mayor Andy Berke

Pension board members voted this morning to approve Chattanooga Mayor Andy Berke's pension reform.

The unanimous vote sends the recommendation to the City Council for the final decision. In response, several employees walked out.

With a final City Council approval, police officers and firefighters will see a nearly 40 percent increase to their contributions and retirees will see a reduction in their cost of living adjustments. The reform will save the city $5.1 million in contributions next year and lower the city's $150 million unfunded liability.

One board member addressed the crowd as they left.

"This has not been an easy decision for me. I've lost sleep, I haven't eaten well," said Mark Coffman.