Pension Crisis

Number 26982
Subject Pensions
Source Florida Times-Union (Jacksonville, Fla.)
State Florida
Year 2014
Publication Date April 6, April 20, May 4, Aug. 31, Oct. 19 and Nov. 16
Summary Jacksonville’s Police and Fire Pension Fund is in crisis. The fund has about 43 cents available for every dollar promised to its retired police officers and fire fighters. Now $2.88 billion, the multiplying city debt is threatening the city’s financial stability. Bond ratings have been downgraded. City projects have been scuttled. Bankruptcy is feared. The recent recession isn’t the only thing that crippled the fund. Deals done in secret, deals hidden for more than a decade and sweetheart deals that allowed a select few to skirt regulations and retire from public service jobs with hundreds of thousands of extra dollars they weren’t entitled to are also to blame.
Category Contest Entry
Pages
Keywords pensions; police and fire; debt; bond ratings; bankruptcy
Related Links
Related Video
Contest Questionnaires Only members can download contest entry questionnaires! Log in to get access.
Ordering info Want to place an order? Email us or call us at 573-882-3364 (Stories are only available to members of IRE. For membership information, please refer to our membership page)