Mayor Annise Parker and City Attorney David Feldman revealed details of a proposed new Houston firefighter pension plan, reports click2houston.com.
Feldman briefed the council budget committee on the new pension plan Thursday afternoon. It includes changes to retirement eligibility, making the minimum age 55 and adding a requirement of 10 years of service.
Under the current system, the Houston Firefighters Relief and Retirement Fund, the requirement is 20 years of service regardless of age.
Overtime would not be included in determining payouts and the employee contribution would be more than the current 9 percent.
The new plan would applicable only to firefighters hired after the plan’s effective date, according to the Mayor’s Office. Existing firefighters would continue to be covered by the current plan.
“The new plan provides the local control we had been seeking from the state legislature,” said Parker.
The mayor said she is proposing the new plan “because it is the right thing for the city of Houston.”
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