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Midland firefighters vote to reduce pension liability; council to ratify measures this week
Summary
Firefighters approved a pay-linked reduction to pension liability in an election; pension board and city will ratify complementary measures and begin funding soon, officials said.
Justin Graham, chairman of the Midland Firemen’s Relief and Retirement Fund, told the City Council that firefighters voted overwhelmingly in a February election to accept a change designed to reduce the pension fund’s liability.
Graham said the preliminary election results showed 88% of 194 votes cast were in favor of the change, and he thanked council members and city management for work on a long-running recovery plan. “Electing to pass this change shows the sacrifice and dedication each and every one of them has to this city and its residents,” Graham said.
Graham reported the pension fund returned about 12% in 2024 after investment and governance changes made following forensic and governance audits — well above a 7% expectation — and said the fund now ranks roughly 37th out of 405 pension plans, placing it near the top 10% in the comparator set. He told the council there is “still much work to do” to ensure long-term sustainability.
Mayor Lori Blong said the council will act quickly: the pension board will ratify its measure Thursday morning, the council plans a special called meeting Thursday evening and will consider a reciprocal measure and immediate funding afterward. Blong and other council members publicly acknowledged the personal sacrifice firefighters accepted and said the council intends to support them as the city implements the funding steps.
Council members and the mayor praised firefighters for the decision and the pension board for its actions; the council made no policy changes during the presentation but set the next steps in motion for formal ratification and funding.
The presentations and discussion were limited to the board report and the announced schedule for ratification; officials said the city intends to move promptly to implement funding after both the pension board and the council take their votes later in the week.
No ordinance or other council motion was introduced during the presentation; council actions related to ratification and funding were described as scheduled for later this week.
