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I'm surprised that the city keeps taking about Police I pensions. Police I pensions have not been used since the 80's. There cannot be many people left alive that are still collecting this pension. Most of them will be gone before the pension is a serious problem, as they are all in their 60's or 70's.

It is heartening to see that Police and Fire II pension plans are fully funded well north of 80%. Most municipalities would kill for those figures. Having said that, newly joining members should get lesser benefits to maintain the solvency of the funds. Raise the retirement from 20yrs to 25 minimum. It is 25 in Massachusetts and many other states. Very few have a 20 yr pension. Also, no more 75% retirements. Lower it to 60% and you'll save even more money. It is obvious that we can no longer afford to pay people 70-75% of their pay for 30 years of retirement.

New people joining the police and fire departments (and dare I say it, the teachers unions?) would be joining with a knowledge of what they are getting. Getting any pension now is a blessing. Take it and invest in the 457 more heavily than you would have.