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8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson
1/19
1
F & 40: A J F F J F F
T J P F P F
J . W
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W S G S B , T
F R P, 44,000 .
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8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson
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2
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4 F $1.7 B 7
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8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson
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3
1 I
T J P F P F (PFPF F)
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8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson
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4
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8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson
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5
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8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson
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6
$92,106, 3% . P S S
, .
I , ,
$3.4
46 40 . U ,
20 $32,000
$50,000 43. T 30
53, $100,000 (
80% , 30 .) W ,
PFPF,
C 1 .
T PFPF
. I ,
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, PFPF $1.1 $2.8
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$2.8 ). A
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$22 $148 .
C 1 E FF B
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E C C C B
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62,746$ 20 $1.1MM $80K $3.4MM $2.0MM
100,000$ 30 $2.0MM $140K $4.7MM $3.2MM
* F 20 , 40 ; 30 ,
30 ; 6
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8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson
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7
4 F $1.7 B
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T
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43. T $1.1 20 . I , $4.5 20
, $220,000 . A $100,000
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D
? O N. B
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8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson
8/19
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8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson
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9
. W
,
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.
# 00 .
.
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2001. H
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PFPF $39,123. W $39,123? B PFPF
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PFPF, ,
8.5% $200,000 20 . A PFPF,
, $39,000 8.5%
20 .
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8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson
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7%. T $200,000 20
$52,000. A ,
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PFPF .
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8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson
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A ,
F, ( )
. S PFPF
? W PFPF ? W
,
$1.7 , .
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8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson
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12
5 F & 40: J
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F, $1.7
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2.) ;3.) ;4.) ;5.) ; 6.)
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0
20
40
60
80
100
120
140
160
Current Post-Reform
City of JacksonvilleAnnual Contribution to PFPF from General Fund
(Millions of Dollars)
Normal Cost
to provideretirement
benefits earnedin one year by
employees
$148
$96
$36 $40
$112
$56
AnnualAmortizedCost to pay
downunfundedpension
liability plusfund mgmt.expenses
.
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8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson
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13
1990 D . W
11.44, 29% 8.48 2008 2009. P
2001
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.
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$36 . I
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.
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PFPF $60,000, $1,200 401 $14,400. P, 2,7002,800 PFPF
. A $40
$14,300 $14,800 . S
. I :
T 401 121 2%. T 7% PFPF .
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8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson
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14
A , . B
, 401
.
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, .
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.
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#
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T PFPF $6 $1.7
, ,
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P R T F, F ,
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8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson
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15
83% F
, . D , 10 PFPF
. T F 74
(0.74% ) 2012 78 2013. B , S F R S
30 2011. A $1.1 , 78 $8.6
. I F S F , $3.3
.
W F
F 25 . A , F $6
, .
T .
C #3 D CA
A $1.7 3% ,
(COLA) . P 2001 ,
COLA . A 5 , COLA
3%. T 3% COLA , ,
J . I , U.S. M COLA I
1% 62, COLA
.
T 3% COLA
$60,000, $2,000 , ,
, . I 10 ,
2% 3% . T , . I ,
.
, 3% CA,
FF
. A , 3%
COLA .
A COLA #1 #3. I
$1.7 , COLA
. H,
.
A
, COLA. W
COLA . D
, COLA . O
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8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson
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16
COLA . R
$80,000 COLA. T 40
50 1020+
COLA.
T C 2 COLA . A ,
COLA 5050
.
A COLA, ,
1.5% 2%. A ,
$5 C 1.
H, .
C 2 CA ,
IE F BEEFI
H H
AGE (< 60) LOWEST COLA LOWEST COLA LOWEST COLA LOWEST COLA
(6170) MAIMIUM COLA MEDIUM COLA LOWEST COLA LOWEST COLA
H (> 70) MAIMIUM COLA MEDIUM MA MEDIUM COLA LOWEST COLA
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8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson
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17
C
T J P F P F
J .
W PFPF $1.7 , . T
. W , , C
J .
A
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U.S.
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40+
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$1.7
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,
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J, . J, .
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8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson
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18
:
D J F F F B:
J P F P F C A F R (CAFR), F20082012 ( );
J P F P F A V R F 2008, 2011 2012 ( )
PFPF S P B: ://..////201220142.
B:
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C H J :
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8/13/2019 Freeze 40 JaxFreeze & 40: A Proposal to Reform the Jacksonville Police and Fire Pension Fund and Restore Jackson
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19
E 1: E , J '
7%
B
1 36,325$ 2,543$ 1 37,486$ 21 67,703$ 41 91,710$
2 39,999$ 2,800$ 2 38,610$ 22 69,734$ 42 94,461$
3 43,673$ 3,057$ 3 39,768$ 23 71,826$ 43 97,295$
4 47,348$ 3,314$ 4 40,962$ 24 73,981$ 44 100,214$
5 51,022$ 3,572$ 5 42,190$ 25 76,201$ 45 103,220$
6 54,696$ 3,829$ 6 43,456$ 26 78,487$ 46 106,317$
7 55,428$ 3,880$ 7 44,760$ 27 80,841$ 593,215$
8 56,160$ 3,931$ 8 46,103$ 28 83,266$
9 56,891$ 3,982$ 9 47,486$ 29 85,764$
10 57,623$ 4,034$ 10 48,910$ 30 88,337$
11 58,355$ 4,085$ 11 50,378$ 31 90,987$
12 59,087$ 4,136$ 12 51,889$ 32 93,717$13 59,819$ 4,187$ 13 53,446$ 33 96,529$
14 60,551$ 4,239$ 14 55,049$ 34 99,424$
15 61,282$ 4,290$ 15 56,700$ 35 102,407$
16 62,014$ 4,341$ 16 58,401$ 36 105,479$
17 62,476$ 4,373$ 17 60,153$ 37 108,644$
18 62,476$ 4,373$ 18 61,958$ 38 111,903$
19 62,476$ 4,373$ 19 63,817$ 39 115,260$
20 62,476$ 4,373$ 20 65,731$ 40 118,718$
1,110,177$ 77,712$ 2,826,461$
C
G : E 20 1,110,177$ E C F 77,712$
B B 3,419,677$
B
60% 75%
3% CA 3% CA