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Proposed pension contribution plan passes employee vote

Posted Feb. 25, 2019

The unofficial results of the city’s pension vote are in, and employees voted in favor of city management’s proposed solution. As such, the city’s $1.6 billion unfunded pension liability has been solved locally, here in Fort Worth.

The Fort Worth Employees’ Retirement Fund Board is scheduled to officially certify the results on Wednesday, Feb. 27.

A total of 74.47% of the city’s 6,589 employees voted – thereby achieving the “50-percent-plus-one” requirement for the vote to pass. Of those, 59.49%, or 3,920 employees, voted for city management’s proposed plan.

This vote comes on the heels of a robust, two-month employee education campaign, which saw city management visiting multiple sites throughout the organization to educate employees on the specifics of the proposed plan. Additional educational materials were made available on the city’s website, through the city’s employee newsletter, and via a dedicated pension hotline.

Changes to take effect

Since the employee vote passed, the proposed contribution increases, the Risk Sharing mechanism, additional employee contributions on overtime and the additional DROP year will all take effect.

Contribution changes for General Employees will be effective July 20, 2019.

Contribution changes for Firefighters and Police Officers will also begin July 20, 2019, and their contributions will be phased in over the next two years.

Based on the performance of the plan, the Risk Sharing mechanism will kick in during 2022. These additional contribution increases are anticipated to last for two years.

As a reminder, the changes to sick/major medical leave and the COLA will also be effective July 20, 2019.

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