Posted in Politics

City unfunded pension liability is up 80 percent

   February 19, 2009

According to the City of Pensacola’s comprehensive financial reports, the unfunded liability for the pension funds is much greater than it was in 1998:

General Pension
1998 unfunded liability: $29,228,000
2007: $50,312,000
Net increased: $21,084,000 72%

Fireman Pension
1998 unfunded liability: $7,692,000
2007:$15,017,000
Net increased:$7,325,000 95%

Police Pension
1998 unfunded liability: $6,224,000
2007:$12,179,000
Net increased: $5,955,000 96%

Combined:
1998 unfunded liability: $43,144,000
2007:$77,508,000
Net increased:$34,364,000 80%

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