City Council talks police/fire issues

The Joplin City Council got an updated look at the latest police and fire recruiting, retention and benefit issues. Finance Director Leslie Haase says a work group has focused on the pension plan, saying it is currently only 63.7% funded and is underfunded by nearly $24.1 million.

The group recommends that the current pension plan be closed to new hires and that they move them to LAGERS L-11 plan. The group also says they should offer “Tier II” employees the voluntary option to transition to LAGERS or stay on the current plan. The group says this would improve employee recruiting by offering competitive retirement plan requiring no employee contributions and including vesting component.

The work group unanimously recommends Council ask voters on November 5, 2019 to support a ½-cent (.50) general sales tax with a sunset expiring at the earlier of 12 years or when the pension plan reaches 120% funded as determined by an independent actuary. It’s estimated to generate $6.5 million to $7 million a year. They’ll consider this at the next meeting.

The group gave three options: 1. Tax will fully fund the closed pension plan with estimated cost $65 million.

2. Tax will fund the “gap” payment for the purchase of forfeited pension service credit for those “Tier II”
employees electing to migrate to LAGERS retirement plan with an estimated cost of $5 million.

3. Tax will fund “buying down” the cost of new hires in the LAGERS retirement plan paid by the general fund with an estimated Cost $2 million.

Click here to see the full detailed presentation

The Council also approved to vacate an easement at 26th and Maiden Lane for the future development of an Aldi’s grocery store.

Council also approved a bill allocating $722,043 for the design of the reconstruction of runway 18-36 at the Joplin Regional Airport. The FAA will cover 95% of this cost.