Mayor Alvin Brown today announced an agreement on retirement reform with the Jacksonville Association of Firefighters (JAFF), Fraternal Order of Police (FOP), and Jacksonville Police and Fire Pension Fund (JPFPF).
The new agreement is projected to save taxpayers approximately $1.1 billion over 30 years, including almost $50 million in the next Fiscal Year alone (10/1/2013 to 9/30/2014). To put those numbers in perspective, the first year savings alone are the same amount of money needed to pay the compensation of approximately 800 city employees. The savings equal the combined budgets of the Jacksonville Public Libraries and the City Planning and Development Department.
“I greatly respect our brave public safety employees and the important work they do for our community,” said Mayor Brown. “This agreement is a product of partnership between the City and public safety professionals. Together, we have achieved retirement reform that will help ensure financial sustainability for both taxpayers and employees.”
Learn more at www.coj.net/RetirementReform