Photo: Bruce Lipsky/Florida Times-UnionMayor 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
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.
Want to read the whole article?
Existing Subscribers Access Article Here
Purchase and download this issue of Florida Trend. Or for an even better deal — opt for a one year SUBSCRIPTION in the format you prefer. When you pay now, you'll receive a complimentary copy of this issue in digital format, PLUS a FREE gift!
Check your preferred option: