The Fire and Police Pension Board office is at 6009 John Douglass Drive.
Chattanooga Mayor Andy Berke, surrounded by police and firefighter union leaders, announces an agreement concerning the police and firefighters pension plan today at the Fraternal Order of Police headquarters on Holtzclaw Ave. in this file photo.Days before Thursday’s expected vote on Chattanooga Mayor Andy Berke’s reforms to the police and firefighter retirement plan, board members said the vote will be postponed.
The actuaries calculating whether the proposed pension changes will save the city $4 million to $5 million a year and significantly reduce the city’s unfunded liability haven’t completed their estimates, Fire and Police Pension Fund President Chris Willmore said Friday. He couldn’t say when the vote will take place.
Meanwhile, several police officers and firefighters, retired and active, are attempting to mount a campaign against the reform reached by Berke’s 18-member task force after 13 hours behind closed doors on Jan. 8. The next day, Berke accepted the plan, which would hike employee contributions by as much as 37 percent and cut cost-of-living adjustments to save the city as much as $200 million over 26 years.
Berke formed the task force in August to find a way to reduce a $150 million unfunded liability to the Fire and Police Pension fund, which is only about 60 percent funded.
Firefighter Chip O’Dell said about 50 employees came to a Jan. 26 meeting. Several plan to confront the City Council on Tuesday, he said, to say they believe the changes protect the highest-paid employees and disproportionately harm those in the middle and lower-paid ranks.