JACKSONVILLE, Fla. – The board that oversees the Police and Fire Pension Fund had some harsh words Friday for Mayor Lenny Curry about pressure it has received to sign a new pension deal quickly.
The board said it needs more information about the recent contracts approved by the police and fire union, which still need to be voted on by the rank and file.
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The board was informed they need to approve a plan by March 15 so the city can implement pay raises and new pension benefits that include a 401(k) for new hires in next year's budget, which must be submitted in July.
The mayor's office has not released how much the new plan will cost taxpayers and how much the pension board would be responsible for. The pension board hopes to meet again with its attorneys and conduct a workshop to see how all of this will affect the fund. Board members said they were not sure they can meet the mayor's deadline.
News4Jax contacted the mayor's office for a response, but there was no work by close of business Friday.
The mayor had put a Feb. 18 deadline for the Fraternal Order of Police and Jacksonville Association of Firefighters to accept new contracts, and both accepted over the weekend.
Last fall, Duval County voters approved a new half-cent sales tax to begin in 2030 to pay off Jacksonville's $2.7 billion pension deficit, but it can only go into effect if the city and its unions can reach an agreement to close existing pension plans.
Curry has promised a 3 percent bonus and a 20 percent raise for the city's public safety employees, as well as the return of benefits cut during the financial downturn in the 2000s in exchange for current employees increasing their pension contribution from 8 percent to 10 percent.
The plan would also close the pension to any new employees, who would be enrolled in a 401(k) retirement saving plan instead. Curry promised the city would contribute 25 percent to that plan.