City of Omaha civilian union agrees to big changes in employee pension plan
Source: Omaha World Herald
By Roseann Moring
The City of Omaha has reached a new labor deal with its largest civilian employee union.
Omaha City Employees Union Local 251 ratified a new contract Tuesday, and Mayor Jean Stothert hailed the contract for what she called unprecedented pension reform. The deal now needs approval from the City Council.
Under the deal, the union would change its retirement plan to a cash balance plan for new employees hired after Jan. 1, 2015, Stothert said. The new plan would be a combination of the traditional pension and a 401(k)-style plan.
Stothert said current employees would accept pension changes, as well, to pay more into the pension, yet get less out.
FULL story and video at link.
THE WORLD-HERALD
Mayor Jean Stothert prepares for a press conference inside her office at City Hall on June 11, 2013.
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I'm a civilian in the Omaha Police Dept. I voted twice to approve this contract.
Even though I'm early retiring for health reasons at the end of the month for (Nov. 29th is my last day to work) this was not an easy decision to make. Congrats to my union brother and sisters!
OS
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What is this mayors pension plan, I mean really what is her pension plan, it is based on what she makes, and is it averaged out and she will get what after the aggregate, is this correct, she gets tenure based on years of service correct?
So lets say she makes 65,000 one year, 85,000 another year, and 100,000 another year divide this by 3 and she gets what 83,333 per year----- nice.
So, stiff the workers and the taxpayers and then have the wolves of Wall Street in the pension plan----- that's just great, reminds of the newly elected Congress and Social Security we are so screwed I mean we are so screwed.
Lets see the plan go up and then see the plan go down and then when you pay more and get less that's a real bargain instead of the other way around---nice.
So to follow the path of all of the other greedsters on Wall Street and the country have the employees put there money into a black pool and have computers decide if they get anything out of the 401K plan------that's the answer.
So instead of this UNION fighting for a DEFINED BENEFIT PLAN based on years of service they get the plan that has people pay more and get less, I am a UNION member and this is outrageous.
We just have to give a great big thank you to all of the folks that keep voting against there best interests and have the Omaha Koch Brothers and ALEC demolish UNION representation in this country and drive everyone into the third world status that's just great
Duh! I have seen enough movies to know what happens when some one in the police department says this is my last day until retirement. Keep safe, stay low. 
