Posted: March 24, 2010 - 4:15pm
By Matt Galnor
Jacksonville Mayor John Peyton wants to put off a study that would determine how much the city owes its pension fund - a move that will save the city millions in a tight budget year.
To make the change, Peyton will need a two-thirds vote from the City Council to waive city policy that requires an annual actuarial study. A bill was introduced Tuesday night and a vote is expected next month.
If the city did the study this year, it would without question be on the hook for more than the $30 million it pays to the pensions for all employees except police officers and firefighters, said Mickey Miller, the city's chief financial officer.
