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Board reviews Senate Bill 388 proposal that would change pension contributions and benefit formulas
Summary
Members of the Evansville City Police and Firefighters Pension Board discussed proposed state Senate Bill 388, which would change member contribution rates and increase retirement benefit percentages for certain police pension funds if enacted.
Board members discussed state-level legislation identified in the meeting as Senate Bill 388, describing potential changes to member contribution rates and retirement benefit calculations for the 1977 Police Officers and Firefighters Pension Disability Fund.
Chief Phil Smith summarized the provisions, telling members the bill "increases the basic monthly pension benefit payable to the member of the 1977 fund" for officers retiring after June 30,…
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