Fire Perspective
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Fire Perspective. Firefighter perspective. Same as general public No free lunch Message resonates Long term financials Government solvency Honesty. Who and Why?. Cities, Counties, State, Fed. Service and infrastructure. Defined benefit Plans. Number of LL or chapter plans- total 353

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Fire Perspective

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Fire Perspective


Firefighter perspective

  • Same as general public

  • No free lunch

  • Message resonates

  • Long term financials

  • Government solvency

  • Honesty


Who and Why?

  • Cities, Counties, State, Fed.

  • Service and infrastructure.


Defined benefit Plans

  • Number of LL or chapter plans- total 353

  • Plus FRS

  • As many plans as many problems.


Choice

  • Chapter vs. FRS

  • Cost of plans

  • Autonomy


Additional Problems

  • Market fluctuations

  • Taxes

  • bubble

  • Europe

  • Diminishing net worth


How did we get here?

  • Minimum contributions

  • Market fluctuations

  • Actuarial assumptions

  • Mixed priorities

  • Complacency

  • Old news


Are we here?


Fixes- short term

  • Service reduction

  • Personnel reductions

  • Benefit reductions

  • Market assumptions

  • Establish priorities

  • Legislation

  • Start Stop


Long term

Negotiations

Legislation

Re-assess priorities

Market improvement

Litigation

Time


Roadblocks

  • statues

  • regulation

  • solvency

  • retirees

  • 99-1

  • Litigation

  • politics


Plans to fix the problem

  • Negotiations

  • Litigation (employment and civil).


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