Newspaper article The Florida Times Union

Committee Counters on Pension Settlement; City Council Finance Committee Wants to Lower Keane's Payout for This Year

Newspaper article The Florida Times Union

Committee Counters on Pension Settlement; City Council Finance Committee Wants to Lower Keane's Payout for This Year

Article excerpt

Byline: David Bauerlein

A proposed settlement offer to end the legal clash over John Keane's pension got unsettled Tuesday when a City Council committee voted to demand more financial concessions from the Police and Fire Pension Fund and Keane.

The unanimous vote by the Finance Committee marks another unexpected twist in the long-running battle over the special pension for Keane, who recently retired as executive director of the Police and Fire Pension Fund.

Even if the committee's recommendation gets approved by the full City Council next week, the counter-proposal still would have to get the blessings of both Keane and the Police and Fire Pension Fund board to bring the battle to an end.

Keane is on track to receive $233,810 in pension checks in 2016 from his 25 years at the Police and Fire Pension Fund. That's in addition to approximately $69,000 in pension payments from his time as a firefighter. He also receives Social Security benefits.

The proposed settlement would reduce his Police and Fire pension benefits to $228,131 this year.

The Finance Committee supported a settlement but amended it so Keane's pension would start at around $207,500 this year.

City Councilman John Crescimbeni offered the amendment. He said if Keane were in the city's General Employee Pension Plan, Keane's pension this year for his tenure at the pension fund would be around $187,000. The recommended pension would be midway between that $187,000 and the $228,131 in the settlement offer.

Crescimbeni said the "split the difference" amount would be a way to for both sides to compromise on their financial positions.

"I'm wrestling with this," he said of a settlement. "I hate this thing, but I understand we need to bring it to closure."

Beth McCague, interim executive director of the pension fund, said she was disappointed by the Finance Committee's vote. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.