freeze 40 jaxfreeze & 40: a proposal to reform the jacksonville police and fire pension fund and...

8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson

1/19

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3/19

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7/19

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10/19

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12/19

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60

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100

120

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Current Post-Reform

City of JacksonvilleAnnual Contribution to PFPF from General Fund

(Millions of Dollars)

Normal Cost

to provideretirement

benefits earnedin one year by

employees

$148

$96

$36 $40

$112

$56

AnnualAmortizedCost to pay

downunfundedpension

liability plusfund mgmt.expenses

.


13/19

13

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14/19

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15/19

15

83% F

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(0.74% ) 2012 78 2013. B , S F R S

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16/19

16

COLA . R

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AGE (< 60) LOWEST COLA LOWEST COLA LOWEST COLA LOWEST COLA

(6170) MAIMIUM COLA MEDIUM COLA LOWEST COLA LOWEST COLA

H (> 70) MAIMIUM COLA MEDIUM MA MEDIUM COLA LOWEST COLA


17/19

17

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18/19

18

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19/19

19

E 1: E , J '

7%

B

1 36,325$ 2,543$ 1 37,486$ 21 67,703$ 41 91,710$

2 39,999$ 2,800$ 2 38,610$ 22 69,734$ 42 94,461$

3 43,673$ 3,057$ 3 39,768$ 23 71,826$ 43 97,295$

4 47,348$ 3,314$ 4 40,962$ 24 73,981$ 44 100,214$

5 51,022$ 3,572$ 5 42,190$ 25 76,201$ 45 103,220$

6 54,696$ 3,829$ 6 43,456$ 26 78,487$ 46 106,317$

7 55,428$ 3,880$ 7 44,760$ 27 80,841$ 593,215$

8 56,160$ 3,931$ 8 46,103$ 28 83,266$

9 56,891$ 3,982$ 9 47,486$ 29 85,764$

10 57,623$ 4,034$ 10 48,910$ 30 88,337$

11 58,355$ 4,085$ 11 50,378$ 31 90,987$

12 59,087$ 4,136$ 12 51,889$ 32 93,717$13 59,819$ 4,187$ 13 53,446$ 33 96,529$

14 60,551$ 4,239$ 14 55,049$ 34 99,424$

15 61,282$ 4,290$ 15 56,700$ 35 102,407$

16 62,014$ 4,341$ 16 58,401$ 36 105,479$

17 62,476$ 4,373$ 17 60,153$ 37 108,644$

18 62,476$ 4,373$ 18 61,958$ 38 111,903$

19 62,476$ 4,373$ 19 63,817$ 39 115,260$

20 62,476$ 4,373$ 20 65,731$ 40 118,718$

1,110,177$ 77,712$ 2,826,461$

C

G : E 20 1,110,177$ E C F 77,712$

B B 3,419,677$

B

60% 75%

3% CA 3% CA

freeze 40 jaxfreeze & 40: a proposal to reform the jacksonville police and fire pension fund and...

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