Jacksonville’s Retirement reform Task Force narrowed down its focus Thursday for addressing the city’s pension problems.The panel scuttled some suggestions like floating a bond to pay off the pension obligation or selling off land to the Police and Fire Pension fund. The city already owes the fund $1.7 billion.
The task force formed a subcommittee to decide if its better to pay off the debt at an even level or to pay off more early on.
Task force chair Bill Scheu said they don’t want to give the pension fund property to even up the debt, but the city could sell land and use the profits to pay part of the pension obligation.
“Our recommendation might be that as in a market driven request for proposals sort of approach we would not be against selling unused city real estate and giving the proceeds to the fund," he said.
The task force has rejected a proposal to move employees into a 401-(k) plan or to have them pay into and collect social security.
The task force is expected to come up with a preliminary plan by Jan. 8.
You can follow Kevin Meerschaert on Twitter @KMeerschaertJax.
