Civic leaders say council shouldn't approve proposed pension deal

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JACKSONVILLE, Fla. - A group of civic leaders is weighing in on Jacksonville's proposed pension reform deal.

They say the City Council should not approve the proposal.

The chair of the Jacksonville Civic Council, Steven Halverson, sent a letter to the mayor and to incoming City Council President Bill Gulliford. The letter was obtained by Channel 4 news partner the Financial News and Daily Record.

It says the mayor's proposal does make progress in lowering long-term costs and increasing employee contributions. But the group says it has several shortcomings.

It says it assumes too high a rate of return. Future employees will see most of the changes, which means it could be some time before money is saved.

And it says it doesn't go far enough in making changes.

The letter does outline several ideas for improvement, which the Civic Council says could help save the city more money.

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