INTERIM. 2 Concerns. 4 Fixes. East Texas Local Fire Pension.

Concerns about the Longview Firemen’s Relief & Retirement Fund are:

• $67 Million in unfunded liabilities
• Increasing city contributions by 1% equals but is only available by cutting some part of the 40% of the budget that is not public safety funding

What reforms have been initiated for the Longview Firemen’s Relief & Retirement Fund?

• City will increase contribution rates by 1%
• If the city cannot meet a 1% increase, the firemen support a 1/2% increase over a lapse in increased contriobutions
• Expanded benefit calculations from the last 3 years of service to a calculation based on the last 5 years of service
• Members of the fund voted to pay into benefits for their widows or widowers (previously a free benefit)

Longview News Journal | Budget woes could hit Longview firefighter pension