JACKSONVILLE, Fla. — The new pension plans for members of the Jacksonville Sheriff’s Office and Jacksonville Fire Rescue Department could cost taxpayers up to $26.5 million per year.
Action News Jax Ben Becker obtained a memo sent by Mayor Donna Deegan’s administration to the Jacksonville City Council.
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The potential cost will be determined by “the number of current employees who elect to move to the Florida Retirement System (FRS) from the City’s DC plan,” starting in Fiscal Year 2028.
There are currently 1,835 members of the Jacksonville Association of Fire Fighters and the local Fraternal Order of Police (FOP) unions and 775 corrections employees.
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The memo states that the city estimates 50% of employees will participate. That would bring the annual cost to between $9.63 million and $13.27 million depending on the eligibility of corrections officers, per state rules.
Action News Jax told you in June when the city reached deals for new state pensions and large annual raises.
Read: ‘Huge financial investment in public safety:’ COJ strikes deal with police and fire unions
In 2017, defined benefit pensions were eliminated for new hires under pension reform pushed through by former mayor Lenny Curry.
The hope is the new contract will improve recruitment and retention of first responders.
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The city says applications to JSO are “up 88% in July 2024 after the collective bargaining agreement was finalized” with the FOP.
The deal still has to be approved by Jacksonville City Council.
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