Search Results for: jacksonville

Several Jacksonville Council Members Support Investigation into Pension System

Earlier this month, Florida state Rep. Janet Adkins sent a letter to Gov. Rick Scott calling for an investigation into the Jacksonville Police and Fire Pension Fund – specifically, the “questionable practices and possible mismanagement” of its DROP fund. Now, several members of the Jacksonville City Council say would support such an investigation and are … Continue reading Several Jacksonville Council Members Support Investigation into Pension System

Jacksonville Pension Reform Bill, Approved by Council, Could Still Stall

The Jacksonville City Council approved the city’s long-debated reform plan last month, which increase future employees contributions to the city’s Police and Fire Pension Fund, as well as boost the city’s payments by $40 million annually. But now the proposal is awaiting approval from the Police and Fire Pension Fund, and one big question remains: … Continue reading Jacksonville Pension Reform Bill, Approved by Council, Could Still Stall

Video: Lawmaker Calls for Investigation into Jacksonville Police and Fire Pension

video platformvideo managementvideo solutionsvideo player Florida State Representative Janet Adkins called this week for state Governor Rick Scott to consider launching an investigation into possible misconduct at the Jacksonville Police and Fire Pension Fund. According to Rep. Adkins, the investigation would focus on: – Why “a special pension plan…was designed for one or two beneficiaries” … Continue reading Video: Lawmaker Calls for Investigation into Jacksonville Police and Fire Pension

Jacksonville Will Vote On Pension Reform Measure This Week

After months of debate, the Jacksonville City Council could approve this week a measure to reduce the city’s pension debt. Observers say the measure, which would increase city pension contributions, change retiree COLAS and give the Council the right to change benefits, has the votes needed to pass through the Council. From the Florida Times-Union: … Continue reading Jacksonville Will Vote On Pension Reform Measure This Week

Jacksonville Poised to Pass Amended Pension Reform Plan

After months of debate, the Jacksonville City Council is as close as ever to passing an oft-amended pension reform bill. The bill originally was designed to force the city to pay higher annual payments into its Police and Fire Pension Fund. But new amendments will likely force pensioners to shoulder some of the burden, as … Continue reading Jacksonville Poised to Pass Amended Pension Reform Plan

Public Utility Company: We Can’t Afford Jacksonville’s Pension Reform Deal

A key part of Jacksonville Mayor Alvin Brown’s pension reform proposal was forcing the city to pay an addition $40 million every year for 10 years into the city’s Police and Fire Pension Fund. But the question was always: where does the city get that money? The solution, pushed for months by Brown, was to … Continue reading Public Utility Company: We Can’t Afford Jacksonville’s Pension Reform Deal

Task Force Leader: Jacksonville Needs to Approve Pension Reform

Over the summer, Jacksonville’s mayor put together a Retirement Reform Task Force. The Task Force’s job description, according to the city website, is to “review the proposed public safety pension reform agreement, seek input from stakeholders and other interested citizens, and make recommendations on how the City should proceed.” On Monday, the leader of that … Continue reading Task Force Leader: Jacksonville Needs to Approve Pension Reform

Jacksonville Pension Reform Bill Faces Obstacles As It Heads To City Council

Jacksonville Mayor Alvin Brown’s pension reform bill is headed to the City Council, where it will be scrutinized and approved by two separate committees. But it won’t be smooth sailing for the bill, as several council members will likely push for unpopular amendments to the measure. The bill aims to improve the funding of the … Continue reading Jacksonville Pension Reform Bill Faces Obstacles As It Heads To City Council

Fitch Slaps Jacksonville With Credit Downgrade Over Pension Obligations

Fitch warned Jacksonville earlier this year that a credit downgrade was waiting in the wings if the city didn’t move to control its rising pension costs. Fitch has now followed through on the threat, downgrading several city bonds from AA+ to AA, and others from AA to AA-. In doing so, Fitch becomes the second … Continue reading Fitch Slaps Jacksonville With Credit Downgrade Over Pension Obligations

With $40 Million Pension Payment Looming, Jacksonville Mayor Says He Won’t Raise Taxes To Pay Down Pension Shortfall

The city of Jacksonville agreed earlier this year to pay $40 million annually for the next 10 years to its Police and Fire Pension Fund. But the city hasn’t yet decided where it will get that money. But Mayor Alvin Brown made it clear Wednesday that a tax increase is not in the cards. From … Continue reading With $40 Million Pension Payment Looming, Jacksonville Mayor Says He Won’t Raise Taxes To Pay Down Pension Shortfall


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