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HELPS Retiree Legislation Update - August 4, 2006
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Posted On: Aug 11, 2006 (20:00:57)
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IAFF Wins Passage of HELPS Retirees Bill
August 4, 2006 – The IAFF has won an unprecedented congressional victory in the successful passage of its HELPs retiree health care proposal and the elimination of early withdraw penalties from Deferred Retirement Option Program (DROP) accounts. Both proposals have been top IAFF legislative priorities this year.
“The joint passage of HELPs and the DROP language represent the most significant financial benefits ever provided by Congress exclusively to the nation’s fire fighters and other public safety employees,” says IAFF General President Harold Schaitberger. “It is an enormous achievement.”
The bill, H.R 4, the Pension Protection Act of 2006, was passed overwhelmingly late August 3 in the U.S. Senate. The House had passed the identical bill last week. The legislation now heads to The White House for the president’s signature. All indications suggest that President George Bush will sign the measure.
Beginning in 2007, all current and future public safety retirees will receive a $3,000 tax credit towards the cost of health insurance or long-term care insurance premiums. Depending on the retiree’s tax bracket, this equals tax savings of between $540 and $870 per year. “The average retiree will see a lifetime in pocket tax savings in the tens of thousands of dollars,” says President Schaitberger. “The passage of HELPs is a real and measurable benefit to every IAFF member.”
The total cost of HELPs is in excess of $3.4 billion over the next 10 years.
Also included in H.R 4 is language eliminating the 10 percent penalty for withdrawals from DROP accounts prior to age 59 1/2. Beginning January 1, 2007, retirees can access DROP money at age 50.
“The passage of this bill is the result of 18 months of hard work and effective lobbying of leadership in both parties about the necessity of passing a pension bill that included our HELPs and DROP language.”
The IAFF’s proposal was supported by several congressional allies, including Representative Chris Chocola (R-IN), the bill’s principal sponsor who shepherded the legislation throughout the entire process.
“This victory is the result of our bipartisan approach to politics and lobbying,” Schaitberger says. “Once again, our union has delivered real results for our membership and highlighted the value and importance of political action.”
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The Stamford Professional Firefighters will be hosting our annual MDA Golf Tounament on Sept 23, 2010. Click on the golf cart above for more information! |
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Millions of New Tax Dollars Proposed To Support Mayor Pavia's "Unified" Fire Service??
Mayor Pavia has proposed a new "plan" to establish a new Fire Department to serve the northern 2/3 of the City of Stamford. This new Department will cost upwards of 10 million dollars per year just to start and will only rise over time. How is he going to pay for this? A new FIRE TAX on homeowners!!! All of this during a time when he promised to hold the line on property taxes and essential City programs and services have been cut and hundreds of City jobs have been eliminated. Click on this link to learn more about the Mayor's "plan". |
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Crystal Ball Fire Fighting? Long Ridge Fire Department Style - Listen Here!
On Monday, May 10, 2010, a Long Ridge Fire Chief cancelled numerous City and Volunteer Fire Units responding to assist his Department during a chimney fire. That Chief was NOT on scene yet and quickly learned that he had more than "just a chimney fire" . Click to listen to the actual radio broadcast of the initial dispatch and cancellation. |
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Recent Promotions
October 2009: Lieutenant David Lenotti to Captain
November 2009: Fire Fighter Ryan Kerwin to Lieutenant
Congratulations Brothers! |
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Captain Daniel Burke Family Photo Gallery
The family of Deceased Fire Captain Daniel Burke has generously donated several of Captain Burke's personal photos of the Stamford Fire Department and Local 786 functions. Our sincere gratitude to the Burke Family for sharing these with us. |
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All Members Please Login!
Registered Members should login to the site to view new site updates and messages posted on the Member Home Page. |
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Stamford Fire Pictures
Department Photographer Frank Blefari's photos can now be viewed online. Click here to visit Frank's Stamford fire photos. |
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