Audit critical of Jacksonville Police and Fire Pension Fund

Published On: Jul 18 2013 05:13:33 PM EDT   Updated On: Jul 18 2013 05:57:46 PM EDT

A new report released Thursday by the city auditor is critical of the Jacksonville Police and Fire Pension Fund.

It looks at the way some retirement payments are calculated for those who signed up for deferred retirement.

In some cases, the report says calculations are not correct and the city may have overpaid some people.

DOCUMENT: Police and Fire Pension Fund audit

It also looks at the retirement plan of senior staff on the pension board. There has been dispute about how the executive director of the board, John Keane, and two others are allowed to have a special retirement plan that was created by the board and not by a legislative body.

There is disagreement on that, and the audit suggests it should be discussed by the City Council.


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