Recent retirements in the Fairfield Fire Department won't require an increase in the town's police and fire pension fund contributions for 2013-2014, Brian Vahey, a member of the joint pension board, reportedly informed during Wednesday's Board of Finance meeting.
The retirements, however, could have a significant impact on the pension fund contributions in the future, Vahey said, according to a report in the Fairfield Citizen.
The board's decision whether to increase the town's contributions to the police and fire pension fund comes as town officials investigate allegations that the fire department had a practice in place to promote or transfer fire officials just prior to retirement, for the purpose of boosting their pension benefits.
Last December Board of Finance Chairman Thomas Flynn received an anonymous letter alerting him to the alleged practice. The recent transfer of two assistant chiefs to the department's training center about two weeks before they retired reportedly netted each an additional $8,000 in annual pension benefits.
In January the Board of Selectmen hired an independent counsel to investigate the allegations. In addition the Fairfield Fire Commission voted to suspend all provisional promotions within the fire department for 30 days while the town investigates.
During the meeting Flynn reportedly said he wants "to hear from the actuaries" what impact the recent retirements will have on the town's contribution rate before making a decision.
For more check out the Fairfield Citizen report.
