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Committee moves firefighter pension bill to study, would allow retirees to return to service
Summary
Senate Bill 143, intended to allow eligible firefighter retirees to return to firefighting service without drawing state tax dollars from the pension fund, was sent to further study after sponsors described eligibility guardrails and fund performance.
Senate Bill 143, presented by Sen. Albers, was advanced for study after committee discussion about staffing shortfalls and the financial condition of the Firefighters' Pension Fund.
Senator Albers told the committee the bill would permit certain retirees to return to work in the fire service while continuing to draw their pension and noted the pension fund contains no state tax dollars: “I want to make sure everyone understands there's no state tax dollars whatsoever in the firefighter pension fund.” The proposal sets eligibility criteria intended to limit fiscal exposure (examples cited in presentation include minimum age 50 and combinations of credible service totaling 80 points in the presenter’s summary).
Committee members asked about the fund’s investments and administration. Morgan Wurst, who oversees the fund’s investments, said the fund is invested across multiple alternative funds and agreed to provide the committee the quarterly report and list of funds for review. Senator Albers noted the bill is a two-year layover and that the committee would request a tax-rate/actuarial study similar to previous measures.
A motion to send SB 143 for actuarial/study was made and approved by the committee by voice vote; the transcript records no roll-call tally of individual member votes. Committee staff will receive the fund’s investment report for committee review ahead of the actuarial analysis.
