Tuesday, October 18, 2011

Sarasota, FL - City Tables 401(k) Idea For Police

City of Sarasota tables 401(k) idea for police | HeraldTribune.com: "SARASOTA - More than 100 Sarasota police employees and members of their families filled City Hall Monday night to protest a proposed package of reductions in police pensions — cost-cutting moves that officers said could damage the police force for years to come.

Officers argued that a proposal to move to a plan similar to a 401(k), rather than a guaranteed "defined benefit" pension plan, was too extreme of a cut.

The protests by officers and their supporters appeared to have an impact, as the city commission late Monday night approved a compromise plan that did not make the most drastic of proposed cuts."