Jacksonville PFPF trustees throw cold water on Lenny Curry’s pension deal

On Friday, the Jacksonville Police and Fire Pension Fund held its monthly meeting of trustees.
It was the first such meeting since the city agreed to tentative pension deals with the police and fire unions last weekend.
As part of that deal, the city will no longer be obligated to the terms of the 2015 pension reform agreement, including the extra payments.
Out of the loop in negotiations, it was inevitable that the PFPF Board would raise questions. And they did just that, before and during the meeting.
In sum, the PFPF believes that they had no say in the deal, and that without specifics, they can’t agree to the deal.
They also believe that the deadline to agree to terms by Mar. 15 is unrealistic, given that the deal is still opaque, especially relative to the role of the PFPF board — which was not at the bargaining table.
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Before the meeting, Trustee Bill Scheu was asked about the deal.
He noted that there’s “no financial information yet,” in terms of the specific financial projections as to what it will cost the city.
Board Chair Richard Tuten expressed similar sentiments, noting that there are no numbers yet on paper that have been produced for the board or the media.
Scheu and Tuten expanded on these positions during the first hour of the meeting.
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The position of Mayor Lenny Curry has been that such details are “exempt from disclosure” through the collective bargaining process.
However, it should be noted that the city projected real savings from the plan … when the city contribution was expected to be 10 or 12 percent on the defined contribution plan, not 25 percent.
In that context, the numbers are relevant to the discussion.
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A public commenter kicked the meeting off, saying that he advocated signing the deal immediately, albeit with a waiver to make the 10 percent employee contribution voluntary.
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