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%