The Jacksonville Police and Fire Pension Fund is moving ahead with a study pointing to how much more the city will have to chip in, despite not receiving feedback on the project from the administration.
The study, done every five years, looks at all the assumptions that are factored in when determining how much money the fund needs.
If retirees are living longer than expected, for example, the formula that determines how much money has to be set aside would need to be changed, leading to more money needing to be put into the fund.
Under the terms of an agreement between the city and pension fund, the city must "endorse" the changes before they can be put into place.
But six months after giving the mayor's office the first part of the study, fund Executive Director John Keane said, the fund has gotten no response.
"Time is working against us now," he said.
So far, Keane said, the study shows workers are living longer. They're also retiring earlier and are showing a greater propensity to sign up for the Deferred Retirement Option Program.
All of those are things that could increase the city's required contribution — but until the study is finished, no one knows by how much.
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