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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Presentation Transcript

Firefighter perspective
Firefighter perspective

  • Same as general public

  • No free lunch

  • Message resonates

  • Long term financials

  • Government solvency

  • Honesty


Who and why
Who and Why?

  • Cities, Counties, State, Fed.

  • Service and infrastructure.


Defined benefit plans
Defined benefit Plans

  • Number of LL or chapter plans- total 353

  • Plus FRS

  • As many plans as many problems.


Choice
Choice

  • Chapter vs. FRS

  • Cost of plans

  • Autonomy


Additional problems
Additional Problems

  • Market fluctuations

  • Taxes

  • bubble

  • Europe

  • Diminishing net worth


How did we get here
How did we get here?

  • Minimum contributions

  • Market fluctuations

  • Actuarial assumptions

  • Mixed priorities

  • Complacency

  • Old news



Fixes short term
Fixes- short term

  • Service reduction

  • Personnel reductions

  • Benefit reductions

  • Market assumptions

  • Establish priorities

  • Legislation

  • Start Stop


Long term
Long term

Negotiations

Legislation

Re-assess priorities

Market improvement

Litigation

Time


Roadblocks
Roadblocks

  • statues

  • regulation

  • solvency

  • retirees

  • 99-1

  • Litigation

  • politics


Plans to fix the problem
Plans to fix the problem

  • Negotiations

  • Litigation (employment and civil).



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