Local organization worries pension reform won't get the job done
JACKSONVILLE, Fla. -- The Jacksonville Civic Council is offering its opinion of the pending deal between the City of Jacksonville and the Police and Fire Pension Fund deal.
Our news partner, WOKV, obtained a letter from the JCC sent to the mayor and other city leaders. It says the City is overestimating the amount of revenue it will gain from investments.
The letter also says the city won't see savings for years, because new employees will bear the brunt of the changes listed in the agreement.
The JCC also says the current plan will not be able to solve the current shortfall of about $1.5 billion, unless city leaders find more savings or sources of revenue.
City Council still has yet to approve the deal struck by city negotiators and pension leaders.
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