Some city governments’ contributions to pension funds for police and firefighters are getting dangerously high, accounting for half or more of their annual police and fire department payrolls, said Kraig Conn, legislative counsel with the Florida League of Cities.
Conn said city contributions last year to pension funds for police or firefighters, or both, accounted for 50 percent of the annual payroll for these employees in Miami Beach, 56 percent in Hollywood, and 57 percent in Miami and Pembroke Pines. “If it fluctuates from 15 to 25 percent, that’s something you can predictably budget for, as a governmental entity,” Conn said. But if pension contributions as a percentage of payroll rises to “40, 50, 60 percent or higher … it is a recipe for disaster.”
READ THE REST OF THIS STORY IN TODAY'S (Sep 11, 2009) DAILY BUSINESS REVIEW
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