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October 14, 2019
IAFF Local Newswire
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Updated: Oct. 13 (21:10)
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PEW Group update
Posted On: Nov 10, 2015
Sorry for not getting any information out in the last week. My son has been in the hospital for the past week. He is scheduled for a GI scope in the morning to find out what is going on. Because of this I didn't make the committee meeting last week. Thank you for the members who did make it. http://www.decaturdaily.com/opinion/editorials/legislature-sets-its-sights-on-pensions/article_cfcab15f-15b1-5877-9b7c-291f127d261a.html This was an editorial piece from Monday. It shows that all the smoke and mirrors Legislators are putting up doesn't matter. They are coming for our retirement and we all need to be telling our brothers & sisters to take action. I have mentioned about speaking with Huntsville's mayor on this issue. We all to be making attempts to speak with out mayors, county commissioners, party chairs, and those with a voice about this. I have spoke with Kentucky FF's Assoc. President Baer and he is working on a letter about the detriments of a cash balance plan for states. He also is going to contact some Legislators that wrote the open letter to states on the effects of PEW to write a letter that is up to date. There was an article two weeks ago stating that the average 401k balance was just above $18,000. This averages out to a retirement benefit of $104 a month for a average life span during retirement. The IAFF pension resources dept. sent an email that showed a comparison of defined benefits vs. cash balance plan for New Hampshire. These salaries are comparable to most of Alabama's Fire Depts. As you can see their is no comparison. The amounts you receive for your benefit are below the federal poverty line. The amount you would have to pay to get the same return is unrealistic. What are your thoughts about Xan writing the Committee about requesting time for someone from our side presenting information to the committee? We could request someone from the IAFF or Kentucky President Baer to speak on our behalf. We can do this. We can beat PEW/Arnold and it starts here! David J. Harer Secretary-Treasurer Professional Firefighters of Alabama (256) 348-4240 david.harer@pffal.org
 
 
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