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Knoxville To Pay More Into State Retirement Program
Posted By News On October 18, 2009 @ 6:24 am In Today’s Local News | Comments Disabled
By 2013, the city of Knoxville will be required to pay 38.5% of a police officer’s salary into a state retirement system, more than double what it is paying now. City Manager Dick Schrad tells KNIA/KRLS News that the information came out during a summit earlier this month for cities participating in the Municipal Fire Police Retirement System of Iowa, or MFPRSI. He says while the state contribution to the retirement fund has steadily dwindled since 1992, the city’s cost is expected to increase drastically: from 17% this year to 19.9% next year until hitting over 38% by 2013. With upwards of 80% of the police budget in salaries, personnel cuts for the police department will likely be considered at budget talks later this year. The Knoxville Police Department currently has 12 officers, which Schrad says is around the minimum needed for a 24/7 police department.
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