Chattanooga City HallPROPOSED CHANGESThe eight-member Fire and Police Pension Board is expected to vote at 9 a.m. today on proposed changes to the pension plan. Details include:* Minimum retirement age for nonvested members is 50; new hires 55* Employee contribution increases from 8 percent to 11 percent, or 9 percent to 12 percent over the next three years* Retiree cost-of-living adjustment capped at an average 1.5 percent* The DROP no longer includes interest; employees have the option to stay three extra years without losing the benefit* Benefits for beneficiaries of those killed in the line of duty increase to 100 percentSource: Fire and Police Pension Board
As dozens of police and firefighters packed a meeting room for their last chance to publicly address proposed changes to their pension plan before today’s scheduled vote, Fire Capt. Tim Zink questioned why the city is cutting his paycheck.
“I have guys working with me that have to have a second job or they would have to get on food stamps or welfare,” Zink said Wednesday. “That’s sad that the city of Chattanooga can’t afford to pay people who put their lives on the line. Now we’re going to take an extra 3 percent pay cut.”
Zink was among retired and active officers and firefighters who criticized Chattanooga Mayor Andy Berke’s proposed pension plan reform that will hike employee contributions by as much as 37 percent, cut retirees’ cost-of-living adjustments and save the city $5.1 million in contributions next year. Several public safety employees asked the board to delay the vote to give them more time to talk about a plan that everyone can agree on.
If Fire and Police Pension Board members approve the reform plan today, the final step is a vote by the City Council.