OSFA Legislative Resolution 22-01 WHEREAS Oklahoma State Firefighters Association’s purpose in pertinent part, is to be instrumental in promoting improved conditions for the firefighters of the State of Oklahoma and to suggest helpful legislation, the inherent assumption is this includes retired firefighters, and; WHEREAS the Oklahoma Firefighters Pension and Retirement System (OFPRS) members (Volunteer/Paid) retired not later than June 30, 1997, or their beneficiaries, received a Benefit adjustment, as of June 30, 1998, to offset/ reflect price inflation as measured by the Consumer Price Index – Urban (CPI-U). The Benefit adjustment was intended to restore one hundred percent (100%) of the loss of the members “Initial Benefit.” The following speaks to these pension member’s experience. *The following calculations reflect OFPRS members retired on June 30, 1998, and; WHEREAS in the ensuing 22 years since, the price of CPI-U measured goods/services have increased a min. 72%, considering a minimum 3% annual CPI-U average increase, and; WHEREAS from July 1, 1999 - July 1, 2022, State COLAs increased a Volunteer Pension, equivalent Years of Service Multiplier $2.63 to $7.53 (35%), and a Paid Pension 21%, i.e., 2002 – Volunteer +$1.79 (*$6.69 Multiplier), Paid 5% 2004 – Volunteer +$.30 ($6.96 Multiplier), Paid 4 % 2006 – Volunteer + $.28 ($ 7.24 Multiplier), Paid 4% 2008 – Volunteer + $.29 ($7.53 (Multiplier), Paid 4% 2020 – Volunteer +$.56 (**$7.83 Equivalent), Paid 4%, and.; * July 1, 2002, the Volunteer multiplier received a 15% increase. Historically, Volunteer ”Years of Service Multiplier” increases have followed the COLA % given. ** July 1, 2020, Retired Volunteer Firefighters received the 4% COLA but the Multiplier was not increase? However, above the Equivalent Multiplier is show for calculation purposes. WHEREAS in July 1, 2022, the NET 100%, CPI-U adjusted rate – COLA increases for a: Volunteer’s Years of Service Multiplier would be $6.96. The current $7.53 Multiplier would bring the Volunteer Pension to 108% of it July 1, 1998, Buying Power. A $7.83 Equivalent Multiplier rate (calculated from a Retired Volunteer Firefighter 2020 COLA) would bring the Volunteer Pension to 112.5% of it’s July 1,1998, Buying Power. A Paid Pension requires a 51% increase to restore its July 1, 1998, 100% Buying Power. WHEREAS Oklahoma Firefighters with an OFPRS pension and their spouse, have a 60% reduction (penalty) and receive 40% of their earned Social Security amount. THEREFORE, BE IT RESOLVED: The Oklahoma State Firefighter Association will pursue legislation intended to restore a minimum of 100% of the value of OFPRS Member Pension Benefit or their beneficiaries: • From June 30, 1998 for those with a OFPRS retirement date on or before June 30, 1998. • From the “Initial Benefit” of those with a OFPRS retirement date after June 30, 1998. Respectfully submitted: OSFA Legislative Committee, Chair Cary Provence 28 May/June/July 2022Oklahoma Firefighter
OSFA Legislative Resolution 22-02 WHEREAS Oklahoma State Firefighters Association’s purpose in pertinent part, is to be instrumental in promoting improved conditions for the firefighters of the State of Oklahoma and to suggest helpful legislation, the inherent assumption is this includes retired firefighters, and; WHEREAS the Oklahoma Firefighters Pension and Retirement System (OFPRS) members (Volunteer/Paid) retired not later than June 30, 1997, or their beneficiaries, received a Benefit adjustment, as of June 30, 1998, to offset/reflect price inflation as measured by the Consumer Price Index – Urban (CPI-U). The Benefit adjustment was intended to restore one hundred percent (100%) of the loss of the members “Initial Benefit.” The following speaks to these pension member’s experience. *The following calculations reflect OFPRS members retired on June 30, 1998, and; WHEREAS in the ensuing 22 years since, the price of CPI-U measured goods/services have increased a min. 72%, considering a minimum 3% annual CPI-U average increase, and; WHEREAS from July 1, 1999 - July 1, 2022, State COLAs increased a Volunteer Pension, equivalent Years of Service Multiplier $2.63 to $7.53 (35%), and a Paid Pension 21%, i.e., 2002 – Volunteer +$1.79 (*$6.69 Multiplier), Paid 5% 2004 – Volunteer +$.30 ($6.96 Multiplier), Paid 4 % 2006 – Volunteer + $.28 ($ 7.24 Multiplier), Paid 4% 2008 – Volunteer + $.29 ($7.53 (Multiplier), Paid 4% 2020 – Volunteer +$.56 (**$7.83 Equivalent), Paid 4%, and.; * July 1, 2002, the Volunteer multiplier received a 15% increase. Historically, Volunteer” Years of Service Multiplier” increases have followed the COLA % given. ** July 1, 2020, Retired Volunteer Firefighters received the 4% COLA but the Multiplier was not increase? However, above the Equivalent Multiplier is show for calculation purposes. WHEREAS in July 1, 2022, the NET 100%, CPI-U adjusted rate – COLA increases for a: Volunteer Years of Service Multiplier would be $6.96. The current $7.53 is 8.2% above the net CPI-U adjusted rate. With a $7.83 Equivalent rate (calculated form Retired Volunteer Firefighter 2020 COLA) puts the rate above 12.5% Paid Pension requires a 51% increase. WHEREAS Oklahoma Firefighters with an OFPRS pension and their spouse, have a 60% reduction (penalty) and receive 40% of their earned Social Security amount, and; WHEREAS the OFPRS members “Tweeners” or their beneficiaries, (317 as of Mar. 30, 2022) due to their retirement date (May 26, 1983 – July 1, 1989), were not eligible for either the OFPRS Escalator or Deferred Option Plan *DROP” pension benefits, and; WHEREAS PFFO 2021 OFPRS mortality report’s average Firefighter mortality was 74 years. The Tweeners, or their beneficiaries will be approximately 79 years of age. WHEREAS “Tweeners” receive only State COLA’s resulting financially, in their being left behind with dwindling OFPRS monthly pension benefits (average <$2,300) in comparison to pension member benefits with the Escalator and/or DROP. THEREFORE, BE IT RESOLVED: The Oklahoma State Firefighters Association will pursue legislation intended to restore annually the Tweeners, or their beneficiary’s pension benefit at a minimum of 100% of its value as of June 30, 1998 based on the CPI-U. Respectfully submitted: OSFA Legislative Committee, Chair Cary Provence
