Jacksonville's Police and Fire Pension Fund remains under 45% funded, despite strong investment returns over the past year. The pension plan closed to new entrants in 2017 as part of a reform effort, is projected to be fully funded by 2056.
Read full article: Jacksonville Police and Fire Pension Fund under 45% funded, aims for full recovery by 2056 A deadly attack on a close friend made Garland Scott leave the gang life and dedicate his life to rescuing others from the road he once walked.
He broke bones as an ‘enforcer’ for a New York City gang. Now he saves people from gang life in Jacksonville Read full article: He broke bones as an ‘enforcer’ for a New York City gang. Now he saves people from gang life in JacksonvilleBODYCAM: Jacksonville police horses help capture fleeing drug suspect in memorable pursuit Read full article: BODYCAM: Jacksonville police horses help capture fleeing drug suspect in memorable pursuit Using FlightRadar24, anyone can track commercial, private and some military flights in the country thanks to ADS-B technology. However, aviation experts told News4JAX it is not required or used by all military aircraft.In wake of tragic DC air crash, Florida pilot shares near-miss experience with law enforcement helicopter in 2022 Read full article: In wake of tragic DC air crash, Florida pilot shares near-miss experience with law enforcement helicopter in 2022Get ready for some fabulous Insider Deals that will help you enjoy a cozy night's sleep and some that will elevate your style and beauty game.Read full article: Elevate your style and beauty game with these Insider DealsTinder Gold just got a whole lot cheaper — from $108 down to $39.97this week that the fund’s funding ratio is currently at 44.1%, a slight decrease from last year’s 44.7%.“Our investment returns were outstanding at 20.4%, far outpacing our assumed rate of 6.5%, and our pension health remains stable, although the funded ratio did slightly decrease,” Lundy said. The pension plan closed to new entrants in 2017 as part of a reform effort, is projected to be fully funded by 2056. A half-cent sales tax will begin contributing to the pension liability in 2031, extending the Better Jacksonville Plan tax. While surtax proceeds dropped from 9.3% to 2.4% year over year, the impact was offset by the plan’s five-year average return of 8.7% and a 10-year average return of 7.4%, both exceeding the assumed 6.5% return rate. Despite concerns over pension liabilities, the city has recently moved toward restoring pension benefits for new hires. Starting in 2026, Jacksonville police and firefighters will return to a pension plan under theUnion leaders emphasize that this change is critical for recruitment and retention. News4JAX reported in June 2024 that union leaders highlighted the importance of this shift for attracting and retaining qualified personnel. Like firefighters, Jacksonville police could soon be in line for a big raise, return to a pension plan for new hires Mayor Donna Deegan has championed the pension shift, stating that it aligns Jacksonville’s first responders with the rest of the state. In June 2024, News4JAX reported that Deegan said, “I said when I was running for mayor that I wanted to look hard at that. The FRS made the most sense to me then, it makes the most sense to me now.” The pension fund’s financial trajectory will continue to be closely monitored as the city balances pension commitments with other budgetary priorities.Ajay Uppaluri graduated from George Washington University and worked in political consulting in Washington, D.C., before joining the News4JAX team as a Content Gatherer.Get ready for some fabulous Insider Deals that will help you enjoy a cozy night's sleep and some that will elevate your style and beauty game.Read full article: Elevate your style and beauty game with these Insider DealsTinder Gold just got a whole lot cheaper — from $108 down to $39.97
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jacksonville House Fire Claims Woman's LifeA house fire in Jacksonville, Florida, tragically claimed the life of a woman. First responders discovered her deceased inside the burning home. A cat was also rescued from the scene and taken to a veterinarian.
Read more »
Cal Fire's Fire Hazard Severity Zone Map Shows California Fire RiskCal Fire's new Fire Hazard Severity Zone map allows Californians to search for an address and see the location's probability of being affected by fire. The map assesses fire hazard, rather than risk, based on the physical conditions that create a likelihood of fire behavior over a 30 to 50-year period. The map considers terrain, local weather, and fire history over 50 years. Areas are ranked as moderate, high, or very high fire severity. The map is effective as of April 1, 2024 and focuses on areas under state responsibility, excluding federal land like the Sierra Nevada Mountains and some parts of the Bay Area.
Read more »
Cal Fire's Fire Hazard Severity Zone Map Helps Californians Assess Fire RiskCal Fire's new Fire Hazard Severity Zone map allows residents to search for an address and see the location's probability of being affected by fire. This map focuses on fire hazard, not risk, and considers factors like terrain, weather, and fire history.
Read more »
Fire destroys Santa Barbara police sergeant’s home in Southern California fireBy JOSH FRIEDMAN The Santa Barbara Police Department has announced that one of its sergeants lost his home in the Southern California Eaton Fire. A Navy
Read more »
Every Street Duval: Jacksonville man’s mission to run every street in JacksonvilleEden had some “Sidewalk Talk” with Rotarian Marshall Butler, who has embarked on an ambitious project to run every street in Jacksonville, Florida, covering over 15,000 streets and an estimated 6,000 to 7,000 miles.
Read more »
Jacksonville Police and Fire Pension Fund Aims for Full Recovery by 2056The Jacksonville Police and Fire Pension Fund, currently at 45% funded, is working towards full recovery by 2056. Strategies include investment optimization, cost management, and exploring alternative funding mechanisms.
Read more »