IRC Report on FPD&R
hockaday
The Fire and Police Disabilities and Retirement Fund (FPD&R) provides pension and disability benefits for most of Portland’s sworn public safety officers. Created in the late 1940s, FPD&R has undergone a few adjustments, most notably in 1989 when the nine member FPD&R board was reorganized to include eleven board members. There have been attempts to reform FPD&R, but only until recently has these attempts been expected to come to fruition, due in part from the Oregonian’s coverage of the FPD&R funding system.
Discussions of reforming FPD&R have arisen out of concerns that the current FPD&R system could carry they City into $8 million in debt. Mayor Potter called for an Independent Review Committee (IRC) to assess FPD&R funding and possibilities of reform. The IRC published a report on their findings May1.
The IRC report is posted below. The City Club of Portland continues to be very involved in this matter, and has published its own report on FPD&R. The City Club’s report also outlines a suggestion for a reform.
A May 23 Special Work Session called to discuss FPD&R and other possible models. Mayor Potter and Council members agreed that more for information is needed on the impacts of the current FPD&R system in comparison to other pension and disability models for Portland’s public safety officers. Because FPD&R is written into City charter, any reform or changes to FPD&R must be placed on the November ballot.
Posted by hockaday on May 23, 2006
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