A plan that fixes Lexington’s underfund police and fire pension fund won approval in a legislative committee today. Lexington Mayor Jim Gray says general assembly’s approval would cut the pension’s long term costs by 45 percent. “This is legislation and an agreement that represents three important themes. One it is affordable for the city. Two it is sustainable and three is provides a dignified retirement,” said Gray.
The plan, which has the endorsement of Lexington’s mayor and its police and fire unions, needs the general assembly’s approval. Retired police officer John Roberts complained the agreement violates promised cost-of-living pay raises. Chris Bartley represents firefighters.
“I don’t think it’s a hiccup. We’ll push it through both houses. It’s an agreement by, a bargaining agreement that was made, a deal struck. And we checked with our legal team, both F-O-P and the firefighters and they said we could do this and really no question,” added Bartley.
Both city and labor leaders admit the agreement could result in a court case. They argue over 70 percent of current and retired police and firefighters approved the deal.