Posted in Politics

City spends $12 mil on pensions

   April 8, 2008

According to its latest audit, the City of Pensacola pensions cost the taxpayers $12,081,768 in 2007.

General Pension Plan: $5,962,692 – June 2007 closed plan moved to Florida Retirement System
Retirees & beneficiaries receiving benefits: 559
Terminated plan members, not receiving benefits yet: 21
DROP plan members: 30
Active plan members: 502
Total: 1112 Cost per person: $5,362

Fire Pension Plan: $3,181,675
Retirees & beneficiaries receiving benefits: 144
Terminated plan members, not receiving benefits yet: 0
DROP plan members: 20
Active plan members 111
Total: 275 Cost per person: $11,570

Police Pension Plan: $2,937,401
Retirees & beneficiaries receiving benefits: 113
Terminated plan members, not receiving benefits yet: 3
DROP plan members: 2
Active plan members: 161
Total: 279 Cost per person: $10,528

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