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June 23, 2017

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Defined Benefit Pension Plans
Updated On: Mar 16, 2016

New Video Explains the Facts About Defined Benefit Pension Plans

A new video, " The Solution to America's Retirement Crisis," produced by the IAFF, is designed to be used by affiliates to educate lawmakers, decision-makers and other audiences on the facts of defined benefit pension plans.

Defined benefit plans were created to assure that after a career serving the public and risking their lives for others, fire fighters had secure, stable and dependable retirement income. Public employees -- including fire fighters -- have frequently forfeited pay raises to improve and protect their retirement benefits. Employees earn less during their careers, but receive good pension benefits that are guaranteed. This guarantee protects employees and family members in their retirement years. Equally important, the accidental disability provisions unique to defined benefit programs are essential for public safety employees who risk their lives every day saving others.

Defined benefit retirement plans are vital to retaining experienced and qualified workers, yet many local and state politicians consider public employee pensions overly generous and are calling for pension "reform" designed to completely eliminate defined benefit plans.

The IAFF also encourages affiliates to share this video with their members, friends, family and neighbors, as well as post it on their web site, Facebook page, Twitter and other social media.

It is time that the truth is told about defined benefit pension plans. 


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