Quote:
Originally Posted by 20yearman
We have whats called the pension Enhancement Fund. It starts off at a really small amount and builds when you retire. Its not much, but its better than nothing. As far as missing the boat on the VSF, its because our union tried to get it for every retiree as well as new retirees. In my opinion that was a bad move so we were denied it. I'm pretty sure the VSF is still on the table though. We could still get it as long as the money is there and the union agrees to the city's terms when its time to negotiate a new contract.
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True, Scarlatos tried to hook up ALL the boys and the city said it was too much. 20yearman, what makes you think it's still on the table? My understanding was that it would have been offered under the same conditions as the Corrections... and that kicked the bucket. Corrections no longer have a VSF. There was not enough profit.
It's possible the Union created the "Pensions Enhancement Fund" because:
- We are never going to get the "real" VSF
- He saw Tier 5 coming
- He thought it was the responsible thing to do.
Our Pension Enhancement is funded by our own contract money. The city pumped a few million in there and that could have been used several ways.