SPBPD Pension

http://floridapublicemployees.com/fl...-fire-pension/

Quote:

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Tallahassee, December 8. 2011:

Brothers and Sisters;

The Florida League of Cities is continuing their campaign to “reform” local pension plans for Police and Fire with misleading radio commercials claiming a need to “save” our pensions. This could not be further from the truth. There are over 450 municipal plans in Florida and the truth is that most are adequately funded and working. A one size fits all approach to “fixing” these plans through a legislative agenda simply will not work.

We were successful in blocking the Leagues’ attempts during last year’s Legislative Session to reform local plans but our members in the Florida Retirement System are feeling the pain of mandated contributions pushed by the League. The League’s method now is to approach your municipalities and seek support for their initiatives to drastically reduce or completely eliminate Chapter 175 pension plans and force our members onto the 401K rollercoaster style plans (Defined Contribution). The League would eliminate Defined Benefit plans that our members have depended upon and were promised as a condition of employment. Our members earn their pensions with their blood and sweat serving our communities.

Be vigilant and make sure your local councils and commissions are not stampeded into introducing resolutions or agenda items that would adopt any of these drastic changes. We must be proactive. Contact and encourage your council members to reject any proposal that would reduce or change benefits, contribution rates or multipliers that would erode your future retirement.

Visit the League of Cities web site at www.floridaleagueofcities.com and follow the link under “more” to the pension reform page to read for yourself their agenda. Contact your state representatives and ask them to oppose local pension plan reform. In the coming election year, remind your council members that you need and expect their support for our issues. Encourage the city to withdraw their membership in the League of Cities and stop paying dues to an organization that would destroy our pension system.

James W. Preston, President

Florida State Lodge

Fraternal Order of Police

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Public sector pensins are finished just like private sector pensions were finished 10-15 years ago. This is the last gasp as cities can declare bankruptcies and then arbitrators can reset pensions and convert pension funds into lump sums which go into 401k type hybrid plans, similar to what GM has recently done. There are already moves at state levels to copy Michigan and offer new employees 401k hybrid type accounts. Like it or not, it is the new reality as cities, counties and states cannot afford tradidtional pensions any longer.

while you are hiding behind your safe little desk, we are patrolling the streets and confronting crime. Dont compare me to your 6 figure office job with your employer matching pension.