October 24, 2014
Jacksonville's $1.65-billion hole

Photo: Bruce Lipsky/Florida Times-Union

Mayor Alvin Brown's plan to fund the city's pension liability would reduce pension benefits for new hires.

Northeast Florida roundup

Jacksonville's $1.65-billion hole

Ron Word | 8/28/2014

With an unfunded pension liability that’s one of the largest created by any municipal government, Jacksonville faces a long-term fight to bring its benefit costs under control. A plan crafted by Mayor Alvin Brown’s administration and negotiators for Jacksonville’s police and firefighters unions would reduce pension benefits for new hires and require police and firefighters to contribute 8% of their pay to the pension fund, up from 7%.

Also mentioned in this regional roundup, newsmakers and key players including Southwest Airlines, Jet Blue, Silver Airways, Jacksonville University, Wells Fargo Center, Everbank Field, Poma Glass & Specialty Windows, Nathan B. Forrest High School, Gainesville Regional Airport, the University of Florida, Community Hospice of Northeast Florida, Courtyard by Marriott, ACCORD Civil Rights Museum and a profile of Eco Relics.

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Tags: Northeast, Government/Politics & Law

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