Firefighter pension reform bill heard

Committees of both the Texas House and Senate heard favorable testimony on Wednesday about HB 2802, which would change the way Austin pays retired firefighters and deals with the pension fund’s unfunded liability, which has been estimated at more than $300 million. Bob Nicks, a retired firefighter who serves as president of the Austin Firefighters Association, said all those who testified in both committees were in favor of the legislation. That legislation will set up a second tier of firefighters—those who join the department after 2025. Retiring firefighters will receive benefits based on when they began their service, how long they work and when they retire. The same is already true for city of Austin retirees as well as retirees from the Austin Police Department. The city and representatives of the Austin Firefighters Retirement Fund have signed a memorandum of understanding laying out how the city and firefighters will work together on the pensions.  Nicks noted that the committees heard positive testimony from Mayor Kirk Watson, Ruben Vallejo, president of the Austin Retired Fire Fighters Association, Chief Financial Officer Ed Van Eenoo, and several others including Nicks. If the legislation wins final approval, the city will buy down the retirement fund’s unfunded liability. He said no one testified in opposition to the bills and he expects approval.