City Police Retirement Plan discussed
June 12, 2007
A retirement program for the City of Libby Police is becoming a growing topic of conversation with the officers and the City Council.
Although the City's officers have been paying into Social Security, Chief Clay Coker has told the council the officers are exempt from Social Security and have been incorrectly paying into it for years.
Coker wants the Council to approve a different plan that will shorten retirement to 20 years instead of the current 30 years. He feels such a move would improve morale and retention. Coker told the Council the City looses officers to other agencies primarily due to the long retirement plan. Coker said pay is comparable with other agencies, but not the retirement package.
Currently, Libby officers are paying into Social Security and another retirement plan. Coker wants to drop the Social Security and divert that contribution into the Police Officers Retirement System. Most other Montana cities, says Coker, belong to that system. The change he says will not cost the City any additional out-of-pocket money.
While the Council seems receptive to the idea, the City Council refused to pass the enabling ordinance on initial reading, wanting more time to review the particulars of the plan for survivor's benefits specifically. The vote was 3 to 2 against, with one councilman absent, and most feeling a need for more information and time to review it.
Coker told the Council this plan is superior to Social Security.
The issue has been going on for decades. Coker told the Council that the Libby Police have never elected to be enrolled in Social Security and their contributions have incorrectly been taken from their paychecks.
Story by KLCB 1230 AM Libby News Radio, www.todaysbestcountryonline.com
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