Jacksonville Pension Task Force Proposes Changes, Including Tax Increase
Everything, including increased taxes, is on the table as the city tries to solve it's pension crisis.At a meeting Wednesday, Jacksonville Retirement Reform Task Force chairman Bill Scheu said everything including a millage increase is being considered to pay the more than $1.7 billion unfunded liability of the city's Police and Fire Pension Fund.
Scheu also reiterated that no final recommendation has been reached and it won't be until next month.
"There is no revenue side of it that we've taken off the table yet, but that doesn't mean that's where we're going to end up," he said. "All matters are on the table but that means other revenue matters are on the table."
The task force discussed other draft proposals, including asking the Police and Fire Pension Fund appoint a financial and investment advisory committee who have a history of investment planning.
The task force will meet again in two weeks and hear from pension fund executive director John Keane and the Brown administration with their reactions to the task force's proposals.
You can follow Kevin Meerschaert on Twitter @KMeerschaertJax.