The F.T.U. 9/22/15 Tuesday's newspaper: Legal action OK'd on Keane Pension

Started by The_Choose_1, September 22, 2015, 07:47:06 AM

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The_Choose_1

September 22, 2015, 07:47:06 AM
Well it's about time!  ::) The Jacksonville City Council votes 18-1 to sort out executive director's special fund. Read this front page story today 9/22/2015 in the Florida Times Union.  ;D
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TheCat

#1
September 22, 2015, 09:01:46 AM
QuoteBy 18-1, the Jacksonville City Council on Monday voted to take legal action and have a judge decide who's right and who's wrong in the longstanding showdown over a specially created pension, created in part by and for John Keane, the executive director of the Jacksonville Police and Fire Pension Fund.
The special pension was created in 2000, a decade after Keane became the fund's first — and to date only — executive director. For 12 years, no officials in City Hall said they had any idea of this pension, which is much more lucrative than the city's general employee plan, the current retirement plan for police officers and firefighters and the state's retirement plan.

This special pension is now worth about $4 million and Keane, who is set to get the lion's share of it, is expected to begin drawing from it soon.

continued on link...

http://jacksonville.com/news/metro/2015-09-21/story/council-citys-lawyers-go-after-unauthorized-pension-police-and-fire

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