Those proposals, if approved, could reach voters in November.
Employees, who put 6 percent of their paychecks into the pension system, and retirees said they object to Rogero's proposals to initially restrict lifetime payments to retirees and non-spouse beneficiaries -- with the possibility to add exceptions at a later date -- and also to add two new pension board members.
Those new members, Rogero said, would be required to live in the city and have experience with finance and/or retirement planning. Those members cannot work for the city or be members of the pension system.
"I'm quite concerned that we need to have citizens on the board," said retiree
The city's charter requires the board to be filled with two representatives from the general government and two from uniformed employees, each elected by their peers. The charter also appoints the mayor, the city's finance director and one council member to the board.
Kristi Paczkowksi, pension system director, suggested new members should also include a
The police and fire unions initially opposed the idea in private meetings with Rogero and later compromised with the mayor to have the pension board vet and approve resident members before the
"I think it would be a preference of the employees that there weren't folks added to the board," said
Rogero said a committee could find new members.
"We might set up a few members who want to collect resumes or recommendations from other employees, from the public, from council members," Rogero said. "I would likely bring a few names forward. Councilman (
Pension board members continue opposing the beneficiary proposal maintaining it does not impact the pension system financially.
Rogero continues to argue longer than average pension payments, especially when children are chosen as lifetime beneficiaries, place unnecessary risk to the investment obligations of the pension system.
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