FIRE COMMISSIONERS DROP THE DROP PLAN

ENGLEWOOD FIRE CONTROL DISTRICT COMMISSIONERS VOTED WEDNESDAY TO DROP A CONTROVERSIAL DEFERRED RETIREMENT OPTION PLAN THAT WOULD HAVE GIVEN FIREFIGHTERS THEIR THIRD PENSION INCREASE IN AS MANY YEARS.  OVER FIFTY RESIDENTS SHOWED UP AT THE MEETING IN ROTONDA WEST, WITH MOST THERE TO VOICE THEIR DISPLEASURE AT THE PROPOSED PLAN.  THE DROP OPTION WOULD HAVE ALLOWED FIREFIGHTERS TO WORK AN ADDITIONAL FIVE YEARS AFTER THEY WERE ELIGIBLE FOR RETIREMENT WITH THEIR ADDITIONAL PENSION MONIES GOING INTO INTEREST BEARING DROP ACCOUNT.  AT THE END OF THE PERIOD, FIREFIGHTERS WOULD HAVE THE OPTION TO RECEIVE A ONE TIME LUMP SUM PAYMENT OF OVER $300,000; PLUS THEIR MONTHLY PENSION PAYMENT WOULD EXCEED $6000.  AFTER MORE THAN THREE HOURS OF CONTENTIOUS DEBATE, COMMISSONERS VOTED UNANIMOUSLY TO PAY A FINANCIAL ANALYST TO REVIEW WAYS IT CAN HELP DEFER THE RISING COSTS OF THE DISTRICT’S PENSION PLAN.