Saving $100 Million
Mayor Bob Foster and the Long Beach Firefighters Association (FFA) have announced a historic tentative agreement to significantly reform firefighter public pensions. The Firefighters Association recently voted to support a proposal that not only reduces pension costs, but enacts pension reform and budget relief. In addition, the agreement ensures adequate staffing on our fire engines and trucks. The deal is expected to save $35.9 million over ten years.
When combined with the recent Police Officers pension agreement, Long Beach taxpayers will save over $100 million over ten years.
This is significant pension reform we can be proud of.
I want to thank the men and women of the Long Beach Fire Department for their incredible contributions and commitment to public safety. I also want to thank Mayor Foster for his leadership at the negotiating table, and Rich Brandt, President of the FFA, for delivering on his promises and an agreement that benefits not only his membership, but the whole City of Long Beach.
Details of the plan include a new pension tier for all new firefighters, a new retirement compensation formula, and a full share of employee retirement costs equal to 9 percent of salary.
The full agreement will come before the City Council in the next few weeks.