I understand there are financial issues in many municpalities, but does limiting hard-working police officers and firefighters to a 55% cap on retirement solve these problems? Perhaps a better way is to limit the contribution percentage allowed by municipalities, making the workers fund the rest. That way, if the police officers and firefighters want a better retirement, and their personal contribution percentage goes up, then they can vote at a Union meeting whether or not to pursue the better retirement. Where I work, our municipality is capped at a 6% contribution, and the officers pay the rest. Right now, we are paying 10% into the fund, and are looking to better our retirement this year (increasing our personal payment to 12-13%).
Hopefully this bill can be amended to alllow those police officers and firefighters who personally pay into a retirement system and have a municipality who is happy with their part of the contribution to earn what they deserve when they retire.