A.G. GancarskiFebruary 17, 2024
6min0
A review of one major Jacksonville pension fund suggests it could use some guaranteed returns.
Tag: Jacksonville Police and Fire Pension Fund
A.G. GancarskiFebruary 17, 2024A.G. GancarskiAugust 16, 20182min316
A federal court in Jacksonville sided Wednesday with the city of Jacksonville over a challenge filed by former Police and Fire Pension Fund head John Keane because of cuts in his pension benefits. Keane saw his benefits boosted to $234,000 a year by the board instituting the Senior Staff Voluntary Retirement Fund. Jacksonville Mayor Lenny Curry said […]
A.G. GancarskiFebruary 9, 20187min271
Good news and bad news for those watching the trials and travails of Jacksonville’s Police and Fire Pension Fund. The good news first: Per a recent actuarial report from the fund, 2017’s funded ratio is 47.60% compared to 43.02% last year (after reflecting all Actuarial Impact Statements). This is the highest ratio since 2010. The […]
A.G. GancarskiJune 7, 20174min175
In a meeting of the Jacksonville City Council Finance Committee Wednesday, Council Auditor Kyle Billy presented a report on the local Police and Fire Pension Fund‘s bank account. That report revealed myriad governance issues with the fund throughout 2016, including dubious purchases and questionable accounting practices. Checks without signature, checks without documentation, delayed check endorsements, questionable […]
A.G. GancarskiApril 10, 201718min284
Prologue: A Monday meeting of the Jacksonville Police and Fire Pension Fund centered around the ultimate actuarial impact of Lenny Curry‘s pension reform package, with presented actuarial analysis from the board proving to be more pessimistic than that of the city about rates of tax revenue growth, payroll growth, and amortization schedule. Ultimately, not much of that mattered […]
A.G. GancarskiMarch 17, 201716min219
The slow walk by the Jacksonville Police and Fire Pension Fund toward policy marginalization continued apace Friday, as the five-person board of trustees offered “review and discussion” of the city’s latest pension proposal. The General Counsel contended earlier this week that the PFPF had no role in the pension decision, arguing that the 2015 pension […]
A.G. GancarskiMarch 14, 2017
4min257
In February, the Jacksonville Police and Fire Pension Fund Board of Trustees balked at a Mar. 15 deadline to vote on the city’s latest pension plan. The board had worried that there would not be enough time to review the data of the new plan, which offers raises and uniformity of benefits for current employees, […]
A.G. GancarskiMarch 2, 20173min243
An exchange of emails this week between Richard Tuten, the head of the Jacksonville PFPF Board of Trustees, and Sam Mousa, the city’s chief administrative officer, reveal friction between the mayor’s office and the PFPF board chair. The dispute centers around a meeting Mousa sought with Tuten to discuss the latest pension reform package, which has been accepted by […]
A.G. GancarskiFebruary 24, 2017
12min321
This is a pivotal time in Jacksonville’s city hall. With complete turnover in the city’s delegation to Washington and opportunities created by the new President, majority turnover in the city’s representation in Tallahassee, a revolutionary pension deal currently being approved by the city’s unions, and the imperiled fate of Enterprise Florida, this is a make […]
A.G. GancarskiFebruary 17, 201713min327
On Friday, the Jacksonville Police and Fire Pension Fund held its monthly meeting of trustees. It was the first such meeting since the city agreed to tentative pension deals with the police and fire unions last weekend. As part of that deal, the city will no longer be obligated to the terms of the 2015 […]