Pension Members,
The Forward DROP voting has ended and below are the tallies. I am happy to inform you all that the Forward DROP vote has passed for both the Fire Department and the Police Department. Over 50% of each side had to vote “yes” for the Forward DROP to pass and this was accomplished. Your trustees worked very hard to make this happen in order to make your Fund stronger. Thank you all for taking the time to vote for your future.
The next step is for the Board of Trustees to accept the election and codify the results at the February 24, 2016 meeting. Once codified, the results will be presented to City Council for their vote to accept or reject the Plan Document change. If approved by City Council, registration for the Forward DROP will then commence on July 1, 2016.
Further details will be provided as this process progresses. The Pension office will be sending out education session dates and times. Please do not contact the Pension office to try and get ahead of the process. The Pension office will be getting the information out to you in a timely manner so that all who want to enter the Forward DROP on July 1, 2016 will be able to do so.
Total Eligible Police Voters: 1,006
Total Police Members who voted: 833 – 82.80%
Total “Yes” votes for Forward DROP: 740 – 73.56%
Total “No” votes against Forward DROP: 93 – 09.24%
Total Eligible Fire Voters: 878
Total Fire Members who voted: 701 – 79.84%
Total “Yes” votes for Forward DROP: 593 – 67.54%
Total “No” votes against Forward DROP: 108 – 12.30%
Thank you again for being engaged and taking the time to move our Fund forward.
Respectfully,
Jerry Villanueva, MBA
El Paso Firemen and Policemen’s Pension Fund Chairman
909 E. San Antonio
El Paso, TX 79901
915-771-8111
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