After months of negotiations, Jacksonville officials are close to completing a pension reform deal, but not everyone is thrilled with the terms of the agreement.
Mayor Alvin Brown and the city's Police and Fire Pension Fund said they reached agreement Wednesday on a new pension reform package
According to the mayor, the deal will generate $1.5 billion in savings for the city over a three-decade period. The agreement will need the approval of the Jacksonville City Council before it can be enacted.
Jacksonville District 1 One City Councilman and Vice President Clay Yarborough says he expects the pension reform measure to be introduced to city lawmakers at their May 27 meeting.
“Typically that just means it’s added to the agenda. It doesn’t necessarily mean it’s up for a vote at that same meeting," he said. "So, it would be my assumption that we would let it work through the normal legislative process, which typically takes 4-5 weeks, and then it will go to the full body for debate and then a vote.”
When what he thinks of the agreement, Yarborough said that he doesn’t have one, since the only thing he’s seen has been the short summary provided by the mayor’s office.
Leaders on the pension reform task force and members of the Jacksonville Civic Council say the deal’s a start but still doesn’t go far enough to reduce costs.