Pension reform tackles $40 million taxpayer contribution

JACKSONILLE, Fla. -- Fine tuning pension reform brought both sides back to the table on Tuesday to clear up language and put everyone on the same page.

The city and the Jacksonville Police and Fire Pension Board have been working on ways to erase a $1.6 billion dollar unfunded liability.

A tentative agreement has been reached, but getting the language right for the City Council is the next step.

Some clarity is now part of package when it comes to where the $40 million dollars extra the city could contribute to help erase the deficit.

Both sides, the pension fund and the Mayor' staff, agreed the Mayor in his budget or city spending plan would detail where the money would come from. After that the city council would have the final say.

"If the city council decides not to appropriate the $40 million annual payment it shall certify in writing the reasons for that decision," said Chief of Staff Chris Hand.

The plan is for the City Council to review pension reform legislation this month. Mayor Brown in mid July will detail his spending plans for next year which will include extra pension dollars.


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