19 Ways to Fix The Problem

 

In the Spring of 2009, the Jacksonville City Council's Pension Sustainability Committee requested that the Jacksonville Police and Fire Pension Fund provide their recommendations to fix the current "problems" with the pension fund. Under the leadership of Pension Fund Executive Director John J. Keane, the presented the following ideas. The presented ideas are broken down into the following areas:

 

1) Enhancements to City Pension Funding Policies                                                       

 

2) Policies to Support a Vibrant Growth in the Payroll Base (To spread UAAL over a larger base)

 

3) Financial Management and Investment                                                                    

 

4) Fiscal Year 2010 Budget Relief                                                                                  

 

5) Program Modifications                                                                                                

 

VIEW ALL 19 WAYS

 

Market Update on the Pension Fund

As of May 29th, 2009, the market cycle appears to have reached a trough in terms of stock market valuations on March 9th of 2009. Since that date, the Jacksonville Police and Fire Pension Fund has recovered $110.6 million from the investment losses previously recorded through March 9th. The extent of this recovery translates into a positive return of 16% between March 9th and May 29th of 2009.

This very experience offers a glimmer of hope that we may have seen the worst and some insight into the magnitude of investment gains that could be available once the market recovery is truly underway. Once the real recovery is underway, we will be able to make significant inroads towards the liquidation of the major elements of the UAAL