Pensacola City Councilwoman Megan Pratt has posted on her website her recommendations for city pensions and benefits. She has reviewed the plans from Gulf Power, Baskerville-Donovan, O’Sullivan Creel, Escambia County, and others to see how we can get the city benefit/pension packages in line with the major employers in the private sector.
She has come up with these recommendations:
1. Enact the Life Annuity Normal Form (choose whether spouse is part of pension calculation)
2. Adopt 5-year averaging for pensions (as opposed to current 3 year averaging)
3. Cap leave accrual/payout to 12 weeks
4. Make no further changes to pensions and benefits during this council’s term.
Read her post.