The largest city in Florida and its Police and Fire Pension Fund have been mired in controversy for at least two years now, but the state legislature may help Jacksonville to resolve at least part of it.
The Jacksonville Police and Fire Pension Fund has a $1.6 billion unfunded liability. The city council approved a pension reform plan in December, but the fund did not agree to it — even though a Florida appeals court upheld a lower court ruling that Jacksonville broke state law by negotiating with the fund about pension benefits behind closed doors in 2013. In January the Florida Department of Management Services piled on too, including the fund among the 19 local pension plans to which it sent a letter instructing them to address their unfunded liabilities.
According to the Florida Times Union, another related issue is that the city and the fund’s trustees do not agree about who has authority over a special retirement fund for the pension fund’s senior managers. Jacksonville’s lawyers consider it illegal, but the trustees argue that they alone have the authority to end that special fund.
State Sen. Rob Bradley (R-Fleming Island) on Feb. 16 volunteered to introduce a bill that would make it clear that the city has the power to take such an action. So impassioned is Bradley that he made his offer of his own volition, not at the request of the city of Jacksonville.
Rep. Janet Adkins (R-Fernandina Beach) asked for a state audit of the Jacksonville Police and Fire Pension Fund. Sen. Audrey Gibson (D-Jacksonville) asked the Joint Legislative Audit Committee to postpone a vote on that request to ensure that it would not be needless duplication and to determine whether the full City Council supports such an investigation. City Council President Clay Yarborough said he believes the council would support a state audit and that he will see a resolution to that effect if that is what the committee wants.
The Jacksonville Police and Fire Pension Fund has a $1.6 billion unfunded liability. The city council approved a pension reform plan in December, but the fund did not agree to it — even though a Florida appeals court upheld a lower court ruling that Jacksonville broke state law by negotiating with the fund about pension benefits behind closed doors in 2013. In January the Florida Department of Management Services piled on too, including the fund among the 19 local pension plans to which it sent a letter instructing them to address their unfunded liabilities.
According to the Florida Times Union, another related issue is that the city and the fund’s trustees do not agree about who has authority over a special retirement fund for the pension fund’s senior managers. Jacksonville’s lawyers consider it illegal, but the trustees argue that they alone have the authority to end that special fund.
State Sen. Rob Bradley (R-Fleming Island) on Feb. 16 volunteered to introduce a bill that would make it clear that the city has the power to take such an action. So impassioned is Bradley that he made his offer of his own volition, not at the request of the city of Jacksonville.
Rep. Janet Adkins (R-Fernandina Beach) asked for a state audit of the Jacksonville Police and Fire Pension Fund. Sen. Audrey Gibson (D-Jacksonville) asked the Joint Legislative Audit Committee to postpone a vote on that request to ensure that it would not be needless duplication and to determine whether the full City Council supports such an investigation. City Council President Clay Yarborough said he believes the council would support a state audit and that he will see a resolution to that effect if that is what the committee wants.
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