Pension fund says city can't change makeup of trustees
Jacksonville Police, Fire pension trustees are defined by state law
The director of Jacksonville's Police and Fire Pension Fund says there are problems with a pending change in city law that would change who serves on the fund's board of trustees.
Currently City Council appoints two of the five board members, but a proposed ordinance would allow them to appoint three of the members.
READ: Pension Fund letter
The fund's director, John Keane, said that would break a state law that specifies how these boards should be made up.
In a letter to Council President Stephen Joost, other council members and Mayor Alvin Brown on Thursday, Keane said breaking that law could cost the fund nearly $10 million later this year, and more money in the future.
The was no immediate word from the city on the future of Ordinance 2012-203.
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