The following article excerpt is from our content sharing partner, FairfaxNews.com.
The Fairfax County Board of Supervisors decision earlier this week to trim some pension benefits long enjoyed by county employees has been unpopular in some quarters but [outgoing] board chairman Sharon Bulova says the decision was necessary.
“This board, and future boards, must always examine county programs to ensure we are achieving a balance between the benefit of that service and the affordability to taxpayers,” Bulova said in a statement.
“A majority of our board felt strongly that our existing defined benefit plan serves the county well and helps us to attract and retain the stable workforce we need to provide the quality services our constituents value, depend upon and appreciate.” However, she noted that the approved changes are “needed to ensure that retirees will continue to have a comfortable pension in their retirement years.”
Tuesday’s vote will end the pre-Social Security supplement for future county employees and will eliminate an additional allowance that increases the retirement annuity by 3 percent.
Read more at FairfaxNews.com
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