City Pension solution

If Consolidation is recommended by the commission and that plan includes merging Energy Services of Pensacola into a utility authority, then ESP shouldn’t be given. Instead, it should be sold to the new authority. All proceeds go to fund the unfunded pension balances for the city general, police and fire pension funds. Those funds then are completely shutdown and city employees are moved over to the state retirement system when they are hired by the new consolidated government.

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Author: Rick Outzen

Rick Outzen is the publisher/owner of Pensacola Inweekly. He has been profiled in The New York Times and featured in several True Crime documentaries. Rick also is the author of the award-winning Walker Holmes thrillers. His latest nonfiction book is “Right Idea, Right Time: The Fight for Pensacola’s Maritime Park.”