GOV
Court of Appeals Upholds City of St. Louis Pension Reform
City Wins Outright Victory for Taxpayers
This article is 10 years old. It was published on September 16, 2014.
The Missouri Court of Appeals has affirmed the City's authority to create a new pension plan for firefighters with fair, but less expensive benefits.
"I proposed changes that are fair to firefighters and to taxpayers," said Mayor Slay. "I thank the aldermen who stood up under enormous pressure to fight for the taxpayers, especially Alderman Craig Schmid, who sponsored the legislation to create the new plan."
Today's ruling by the Court of Appeals upholds Circuit Court Judge Robert Dierker's June, 3, 2013, decision, which allowed the City to terminate the state-controlled Firemen's Retirement System and start the new, locally controlled Firefighters Retirement Plan.
"The people of St. Louis are already seeing the benefits of the new system," Mayor Slay said. "Had it not been in place, we would have had to make deep cuts to needed and popular services. Instead, the cost of the firefighters pension actually went down, and our credit rating has stayed strong. We must be fair to firefighters. But, it is important that we pay them what we can afford while always protecting our citizens -- from fires and from out of control costs."
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