Gulliford Announces New Solution To Pension Problem
A new plan is on the table to solve the City of Jacksonville’s $1.6 billion pension woes.
Jacksonville City Councilman Bill Gulliford announced his proposal for Police and Fire Pension Reform at City Hall Thursday.
The plan calls for many of the same pension benefits as one the City Council rejected last month. But in Gulliford's version, the city would agree not to make further changes to employees' pensions for seven years. Gulliford previously opposed this measure but said times are desperate.
“Folks, we are bleeding to death. And that’s what we’ve got to stop. It’s killing us,” Gulliford said.
Gulliford’s plan will be introduced at Tuesday’s City Council meeting.
Any deal must be approved by the Police and Fire Pension Fund Board of Trustees before it goes into effect.