A Jacksonville City Council committee approved a pension reform plan Monday morning. The Rules Committee approved the bill, which lays out a 13 year payment plan for the Police and Fire Pension Fund.
Committee president Bill Gulliford says his new plan would allow the city to reap the benefit of reduced financial obligations even before there’s a permanent funding source.
Gulliford says the City Council has three options. He says the right decision is the preferable option, but even the wrong decision is better than making no decision at all.
He said, “[That's the] worst possible posture you can be in, and that’s what we have done for four years or better. We have made no decision”
Councilwoman Lori Boyer was one of two committee member who voted against the plan. She says the issue should wait until a new council takes office in July.
“You are binding a future council, folks who have been duly elected, and a mayor-elect, you are binding them to something that they’re going to have no ability to correct course if this course turns out to be a problem.”
The full City Council could vote on the reforms as soon as next week. The bill has one more committee stop before then.
