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Bob Hudson

Beach Fanatic
May 10, 2008
1,066
739
Santa Rosa Beach
Bob How much is the medical stipend for FRS participants ?

When does it start and is there any time limit on the payment?

I believe the FF union is trying to negotiate a $600-$800 per month stipend to be paid until the participants normal SS retirement age. If a SWFD FF retired with 25 years of service wouldn't he receive between $7200 - $9600 per year until 67 years of age (most cases from what I see in the tables). If that employee were 50 years of age when he/she retired it would appear that the benefit would be somewhere between $122,400 and $163,200.
 
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30ashopper

SoWal Insider
Apr 30, 2008
6,846
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Right here!
Bob How much is the medical stipend for FRS participants ?

When does it start and is there any time limit on the payment?

I believe the FF union is trying to negotiate a $600-$800 per month stipend to be paid until the participants normal SS retirement age. If a SWFD FF retired with 25 years of service wouldn't he receive between $7200 - $9600 per year until 67 years of age (most cases from what I see in the tables). If that employee were 50 years of age when he/she retired it would appear that the benefit would be somewhere between $122,400 and $163,200.

The district should refuse to negotiate any such stipend in my opinion.

Another thing I noticed in the study, it assumed annual salary growth of 7%, but the fire department has averaged 9% over the last three years. This discrepancy adds an additional shortfall to the fund. I'd suggest who ever oversees setting up the constraints on the next report make sure and set the annual salary increase percentage equal to the historical average.
 

Bob Wells

Beach Fanatic
Jul 25, 2008
3,380
2,857
Oh but excuse me, you have not or will you ever hear me say I have it bad, 30A. So does that mean you are going to run?
 

Bob Wells

Beach Fanatic
Jul 25, 2008
3,380
2,857
To not negotiate in good faith is illegal. Hence negotiate to where both sides come to an agreement and feel they have come out with the best deal for both sides is not bad. Mr Abbit was the representative from the Fire Board that sat across the table from us when the raises and retirement was negotiated. When we walked out we felt as though we were treated fairly based on the numbers we presented. Our wages were based on the departments approximately the same size and providing the same level of services and the survey was performed by the same company hired to do managements wage survey. Since that contract we have forgone any negotiated increases except steps. When management came and expressed the needs for cuts there was an attempt by a South Walton Fire District Pension Board member to come up with we the Union believes as a viable solution. Since then we have attempted to propose other changes and address Managements concerns. So we are negotiating in good faith, and hopefully your representatives will also.
 

Bob Wells

Beach Fanatic
Jul 25, 2008
3,380
2,857
Bob How much is the medical stipend for FRS participants ?

When does it start and is there any time limit on the payment?

I believe the FF union is trying to negotiate a $600-$800 per month stipend to be paid until the participants normal SS retirement age. If a SWFD FF retired with 25 years of service wouldn't he receive between $7200 - $9600 per year until 67 years of age (most cases from what I see in the tables). If that employee were 50 years of age when he/she retired it would appear that the benefit would be somewhere between $122,400 and $163,200.

I believe it is five dollars per year for life at retirement.
 

Bob Hudson

Beach Fanatic
May 10, 2008
1,066
739
Santa Rosa Beach
So in FRS the retiree would draw $5 per year of credited service. 30 yrs of service = $150.00 25 years = $125.00. It also appears that they must prove they actually have insurance

Comparison

FRS - $150 per month - $ per year - $1500 per year
FF proposal $600 per month - $7200 per year

Is the proposed stipend for Insurance?

If not what is it for ?
 
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Bob Hudson

Beach Fanatic
May 10, 2008
1,066
739
Santa Rosa Beach
Bob

Do I have the right makeup of the pension board as follows:

Three members that are members of the FF union
One member that is a SWFD employee, but not a member of the FF union
One member that is not affiliated with either SWFD or the FF Union

Is this right ?
 

30ashopper

SoWal Insider
Apr 30, 2008
6,846
3,471
56
Right here!
Bob

Do I have the right makeup of the pension board as follows:

Three members that are members of the FF union
One member that is a SWFD employee, but not a member of the FF union
One member that is not affiliated with either SWFD or the FF Union

Is this right ?

These folks aren't responsible for negotiating the pension agreement and issues like wage increases, isn't that the responsibility of the Board Of Fire Commissioners?
 

Bob Hudson

Beach Fanatic
May 10, 2008
1,066
739
Santa Rosa Beach
Yes that is correct.

The pension board are the body making investment decisions and are fiduciarily responsible to everyone for making prudent decisions in those areas.

The FF union and SWFD negotiate the plan benefits, but the Pension Board should have as its primary objective the financial stability of the fund. That the contributions and investment return levels are sufficient to guarantee the benefits to the participants. IMO their primary concern right now should be increasing the funding % from 63 to somewhere in the 80% range.

In my opinion - they should keep a hands off approach to the negotiations, should only provide data that would show the impact of the proposed plan changes on the financial stability of the fund and the costs associated with those changes.
 
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