City Council Unanimously Approves Revised Fire And Police Pension Plan

Tuesday, February 25, 2014

The City Council on Tuesday night unanimously approved a revised pension plan for city fire and police.

Mayor Andy Berke told council members that the work product of a task force and consultants benefits both city taxpayers and families of pension members.

The Fire and Police Pension Fund Board earlier voted unanimously to move forward with the pension reforms that officials said will save over $200 million over the next 25 years.

Change became necessary after the stock market crash in 2008 caused the pension fund to lose a third of its assets, it was stated.





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