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Home My WebLink About2011 05 18 Other - PowerPoint Presentation shown during Public Input Date: May 18, 2011 This document was provided to the Mayor and City Commission and shown as a PowerPoint Presentation during "Public Input" at the May 18, 2011 City Commission Special Meeting with the Board of Trustees. Proposal for Special Risk Defined Benefit Pension Changes History- The Human Side • Currently 16 former Winter Springs firefighters — 341 Combined years of service — 21 Average years per firefighter • Dedicated to the "Lallathin" era — Proud to serve Winter Springs — Do the most with the least — Education is important — Take care of OUR citizens History- The Human Side • Most at the end of our careers • Sacrificed for our pension when the economy was healthy — Rolled Money Purchase Plan monies into DB — Employee contribution increased from 2 to 3% — Merit raise decrease for 4 years • Had no choice in the merge with Seminole County • Lowest pay in Seminole County position for position • Chose to stay in City pension based on info History- What We Signed Up For • 24/48 = 2912 hours/year (40% more than the average worker) • 24/7/365 (holidays, disasters) • Apparatus required to be manned — Ordered to remain on duty — Change of family plans at any time • Time and a half after 56 hours /week (FSLA) — 14 hours per pay every two out of three pay cycles History- What We Signed Up For "Firefighters have shorter life expectancies than the average population and are three times more likely to die on the job (due to inherent risks, physical and mental stresses, blood borne pathogens, and exposures to toxic and carcinogenic compounds released in smoke)" (source: US Bureau of Labor Statistics, University of Cincinnati) Currently... • 16 firefighters in the City pension • No COLA, medical insurance, disability • No DROP • Final Average Salary (FAS) based on 3 best consecutive years instead of best 20 quarters (FRS) • Base pay does not include educational, paramedic, and special team incentives Currently... • Battalion Chiefs do not earn time and a half for extra hours worked • Contrary to some recent news reports, we can not use sick time towards retirement • The City does not receive Ch 175/185 monies . . Proposal Effective 1/1/12 due to end of tax year: • Cap the elective overtime hours so the end point is predictable — Approx. 6400 hours (2010) /16= 400 avg. hours • 3 Battalion Chiefs worked over half of the 6400 hours (at straight time) • Allow for FSLA and required overtime • Include educational, paramedic, and special team incentives Proposal (cont'd) • Final Average Salary (FAS) based on best 3 consecutive years — Safer than FRS "best 20 quarters" • Collect and utilize 175/185 monies (SB 1128 allows if 70% funded) • No DROP, COLA, medical, or disability insurance • Wait and see the effects