Pam LaddChanging the retirement benefit plan for police officers and firefighters will harm recruitment and retention efforts and force them to work longer than desired, the chairman of the Chattanooga Fire & Police Pension Fund board argues.
“You’re going to go back to where you have older policeman and older firefighters,” said Terry Knowles, board president.
Without assured retirement benefits, he said, the city will have a tougher time recruiting and keeping qualified police officers and firefighters.
Knowles sent detailed fact sheets about retirement benefits for officers and firefighters to City Council members last week. He said some council members have talked about changing the retirement plan from a defined benefit plan to a defined contribution plan, much like a 401k plan.
However, Richard Beeland, spokesman for Chattanooga Mayor Ron Littlefield, said changes to retirement benefits are not on the table.