MEMPHIS, Tenn. — The City Council has approved a hybrid pension plan introduced by council member Wanda Halbert.
New hires and city employees with less than seven-and-a-half years on the job will switch over to a 401k-type retirement plan.
The changes are effective July 1, 2016.
At Tuesday night’s meeting, city employees and their loved ones verbally attacked council members.
“Your job, whether you like it or not, is to look after the financial well-being of this city,” one speaker said.
But city leaders remained firm, insisting cuts were needed.
“This is about saving the city. You’ve not heard talk of layoffs. We’ll be able to say, you got your job,” Mayor A C Wharton said.
Although those who have been employed longer than seven-and-a-half years won’t be affected by the change, they were the ones fighting the most.
“It shows you older officers understand what young people are going through or have to go through,” Mike Williams, the Memphis police union president, said.
Some council members agreed and fought, but didn’t have the support.
“If we can make promises to businesses, why can’t we do that for our employees?” Janis Fullilove asked.
Union leaders for Memphis firefighters have already promised they will sue the city. Police union leaders said they’re still considering their options.
