Florida Gov. Rick Scott To Decide on Longer Repayment Timeline for Jacksonville Pension Liabilities

A Florida bill, which is headed to the desk of Gov. Rick Scott, would allow Jacksonville to extend the timeline over which it is required to pay down its unfunded pension liabilities. Florida municipalities have 30 years to pay off their pension debt; the bill would let Jacksonville go beyond that period. The result would … Continue reading Florida Gov. Rick Scott To Decide on Longer Repayment Timeline for Jacksonville Pension Liabilities

Jacksonville Mayor Pushing Sales Tax to Boost Pension Funding

Jacksonville Mayor Mayor Lenny Curry last week proposed levying a half-cent sales tax, with the resulting revenue to be used strictly for paying the city’s pension contributions. The measure would have to be approved by voters in a citywide referendum. Details of the proposal, from the Florida Times-Union: The sales tax would run from 2030 … Continue reading Jacksonville Mayor Pushing Sales Tax to Boost Pension Funding

Jacksonville City Council Unanimously Approves Audit of Police and Fire Pension

The Jacksonville City Council voted on Tuesday to launch an audit of the city’s Police and Fire Pension Fund. Edward Siedle – who Institutional Investor named last year as one of the 40 most influential people in the U.S. pension sphere – will be conducting the audit. From the Florida Times-Union: Siedle anticipates the audit … Continue reading Jacksonville City Council Unanimously Approves Audit of Police and Fire Pension

Public Utility Votes to Help Jacksonville With Pension Reform — With Some Some Conditions

The Jacksonville Electric Authority (JEA) has agreed to help the city in its efforts to fund its pension system – but there are a few strings attached. JEA would make a one-time, $120 million payment to the city’s pension fund. In return, JEA wants the city to slash the utility’s future contributions and let it … Continue reading Public Utility Votes to Help Jacksonville With Pension Reform — With Some Some Conditions

Jacksonville Pension Task Force Member: Use Sales Tax to Fund Pensions

A member of Jacksonville’s Pension Reform Task Force is calling for the levy of a sales tax, with revenues going toward the city’s Police and Fire Pension Fund. Dr. Sherry Magill, the president of the Jessie Ball Du Pont Fund and a member of Jacksonville’s Pension Reform Task Force, is latching on to a sales … Continue reading Jacksonville Pension Task Force Member: Use Sales Tax to Fund Pensions

Jacksonville Voters Could Decide Fate of Sales Tax to Fund Pension Debt

A Jacksonville city councilman has moved forward with the idea of levying a sales tax to help fund the city’s Police and Fire Pension Fund. The tax would have to be passed by voters, and could appear on the May ballot. From WOKV: Councilman Bill Gulliford has filed a bill which would allow a sales … Continue reading Jacksonville Voters Could Decide Fate of Sales Tax to Fund Pension Debt

Public Utility Back in Fold of Jacksonville Pension Reform Plan

Jacksonville public utility company JEA is back on board with the city’s pension reform plan. The company is helping to finance much of the city’s current reform proposal; JEA will make a $120 million lump sum payments to the city’s Police and Fire Pension Fund. Last week, it was unclear whether JEA would go through … Continue reading Public Utility Back in Fold of Jacksonville Pension Reform Plan

Florida Supreme Court Hears Jacksonville Pension Records Case

The Florida Supreme Court on Tuesday began hearing a case centered on public records requests and the Jacksonville public safety pension system. The dispute is between the Jacksonville Police and Fire Pension Fund and a resident who says he was charged exorbitant fees to gain access to public pension records – records which are supposed … Continue reading Florida Supreme Court Hears Jacksonville Pension Records Case

Florida Gov. Rick Scott Rejects Call for State Investigation Into Jacksonville Pension Fund

A state lawmaker, Jacksonville city council members and others have called repeatedly for a state investigation into the city’s Police and Fire Pension fund since late 2014. Specifically, they want an investigation into whether regulations were broken in the administration of the fund’s DROP. Florida Gov. Rick Scott finally addressed the issue on Tuesday, and … Continue reading Florida Gov. Rick Scott Rejects Call for State Investigation Into Jacksonville Pension Fund

Former Jacksonville Mayor Calls for Tax Increase to Fund Pension Reform

Former Jacksonville mayor and current city Chamber president John Delaney said Monday that a tax increase is likely the best way to fund the city’s pension reform measure. The city has been weighing a pension reform bill for months, and one of the points of debate has been the source of funding for the measure. … Continue reading Former Jacksonville Mayor Calls for Tax Increase to Fund Pension Reform