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Long-closed Jax pension plan still under 45% funded, expected to be made whole in 31 years

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A Jacksonville police and fire pension plan closed to new entrants nearly a decade ago is still well under halfway funded, despite a good year of investment returns.

Deputy Director Steve Lundy told the City Council Finance Committee that the funding ratio of 44.1% at the end of 2024 is “slightly down” from the 44.7% mark a year before. The plan is expected to be fully funded by 2026, roughly four decades after it was closed to new entrants in 2017.

Nevertheless, Lundy said the funding policy is working “very effectively.”

“Our investment returns were outstanding at 20.4%, far outpacing our assumed rate of 6.5%, and our pension health remains stable, although the funded ratio did slightly decrease,” he told legislators.

A half-cent sales tax will start funding the pension liability in 2031, which is an extension of the current Better Jacksonville Plan tax.

The Lenny Curry administration sought to repurpose that surtax to the pension liability previously. But given the commitment to the Jaguars’ stadium renovations, current Mayor Donna Deegan and the City Council agreed to move the sales tax back to physical infrastructure to defray stadium build costs of $775 million.

Surtax proceeds are down year over year, to 2.4% from 9.3% the year before. But the overall number is smoothed to 6% to dampen volatility in the metric.

Investment returns make up for the surtax shortfall though, Lundy said.

“Over the last five years, our pension funds average rate of return was 8.7%, and the 10-year average return was 7.4%, which are both above the assumed rate of return of 6.5%, and this is very good news,” Lundy said.

The police and fire plan is one of three legacy pension funds in the city, along with the correctional officers’ pension plan and the general employees’ plan. All three were closed to new entrants as a consequence of pension reform approved by the Legislature last decade, which put employees on a defined contribution plan for a number of years. However, the Deegan administration and the Council approved the Florida Retirement System as an option for police and fire starting in 2026.


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Rick Scott says Luigi Mangione should be executed

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The Naples Republican suggested a ‘legitimate conversation’ about health care reform was possible.

Florida’s senior Senator believes the man accused of killing of a health insurance CEO should be put to death, assuming he’s convicted of the crime.

“Well, if you look at what’s happened on television, I mean, he’s not been convicted yet, but it sure looks like (the murder) was just absolutely in cold blood, and he just had a vendetta against him,” Rick Scott said about Luigi Mangione, the 26 year old Marylander accused of killing United Health CEO Brian Thompson in December 2024.

“So at least that’s what you read, so if that’s what happened, I mean, you know, that’s clearly justified,” Scott said. “But violence is never justified.”

Among the federal charges against Mangione: first-degree murder; murder in furtherance of terrorism; criminal possession of a weapon; and stalking. Per Newsweek, Mangione has raised more than $228,000 for his legal defense, as the accused has become a cause celebre for at least some people who feel wronged by denial of health insurance claims and the industry writ large.

Scott added that “violence should never be tolerated,” saying Americans have “got to figure out how to bring people together and have a legitimate conversation.”

“If somebody doesn’t like the way the healthcare system is being delivered, then we get in the middle of it and change it. That’s the right way of doing it,” Scott said on Gabe Groisman’s podcast.

Before he entered politics, Scott was involved in health care himself, including with Columbia/HCA, America’s Health Network, and Solantic Corporation.

Mangione will be in federal court on Feb. 17 and in state court in New York on Feb. 21.


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New report puts Ben Sasse’s spending scandal at UF under the microscope

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In the wake of the University of Florida President Ben Sasse’s financial scandal, UF needs stronger protocols in place for awarding consultant contracts, hiring employees and spending money on food and drinks for school events, according to some of the findings in a new Florida Auditor General’s preliminary audit report.

The Florida Auditor General’s office detailed how Sasse’s office spent millions of dollars on consultants, employees who worked remotely from out of state and lavish parties.

The final audit report is expected to be completed in the next several weeks, auditor manager Jaime Hoelscher said.

UF spokesman Steve Orlando said the school had no comment Tuesday.

Sasse resigned last year from his post because of his wife’s health.

Weeks later, he was under fire and facing accusations of wasting school funds based on reporting from the Independent Florida Alligator college newspaper, which broke the story.

Sasse’s office spent $14.8 million in the 2023-24 school year — a 72% spike from the previous year, the preliminary audit report said.

Sasse’s office spent $6.4 million on a consultant firm, but the audit report said, “University records did not demonstrate the benefit the University received for the consultant services.”

The president’s office spent $563,825 on catering for eight events. The preliminary audit said the prices were not competitive.

“As such, the reasonableness of the costs was not always apparent,” the report said describing a two-hour holiday buffet for 594 people that cost $169,755; a one-hour-holiday lighting party with hot chocolate, cider, peppermint chocolates, and cookies that cost $62,650 for 2,000 guests; and Sasse’s tailgating party for 478 people with a $46,449 tag.

Meanwhile, Sasse’ office hired 24 people from Feb. 6, 2023 to June 30, 2024.

“The contracted annual salaries ranged from $75,000 to $687,000 and averaged $249,931. Our examination of University records and discussions with University personnel disclosed that University employment practices could be improved,” the preliminary audit report said, noting 14 of those positions didn’t have job descriptions.

Many of the positions were paid above market value and the university did not conduct a competitive recruitment hiring process either.

“According to University personnel, the President and 1 other member of University management exercised discretion in establishing the salaries for the 19 individuals,” the preliminary audit report said. “However, although we requested, University records were not provided to identify the basis for those salaries.”

The audit raised other concerns about compensation.

One employee was given a $115,000 relocation bonus and then quit eight months later, while a second employee was paid a $129,000 bonus and then resigned within18 months.

“Given the brief employment periods of the two employees, we asked University personnel whether repayment of those amounts was requested and were informed that University contracts for these employees were not structured to require repayment,” the preliminary audit report said.

The president’s office also paid $100,000 for an employee’s house purchase.

“To qualify for loan forgiveness, the employee must remain employed full-time at the University during the 5-year period. Considering this employee also received an $80,000 recruitment bonus and $25,000 for relocation assistance paid from another University Department, the reasonableness of the $100,000 payment was unclear,” the preliminary audit report said.

And not everyone working for Sasse actually lived in Gainesville, or even Florida.

Thirteen UF employees worked remotely while living in California, Illinois, Maryland, Massachusetts, Nebraska, Tennessee, Texas, Virginia, and Washington, D.C., the report said.

And the preliminary audit report took aim at Sasse’s own pay.

After he resigned, he kept his $1 million annual base salary as president emeritus through February 2028.

“In response to our inquiry in December 2024, University personnel indicated that he did not teach a class in the Fall 2024 but was preparing materials for a course that he and another employee would co-teach in Spring 2025. University personnel further informed us that he was also working closely with the Chair in his role as an external advisor, which included responsibilities such as fundraising, speeches, and recruitment,” the report said. “Absent records to support the basis for the Advisor salary at the same rate of his prior compensation as a University President, the public purpose of such a salary is not readily apparent.”


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Ag department wants crackdown on psychedelic ‘shrooms, plant milk and fake meat

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A new “farm bill” championed by Agriculture Commissioner Wilton Simpson takes aim at trippy fungi, plant-based milk and fake meat fashioned from plant products.

The 2025 Florida Farm Bill, which is being carried by Sen. Keith Truenow and Rep. Kaylee Tuck, includes measures intended as ways to “increase consumer protection and transparency.”

One of those planks would put the kibosh on certain elevated experiences, by “closing the loophole allowing the sale of psychedelic mushrooms.”

Some mushrooms apparently are commercially available. Jacksonville’s Folio Weekly noted that while psilocybin is federally banned as of 1970, the Siberian-sourced amanita muscaria has been available in recent years.

The farm bill would also ban “the mislabeling of plant-based products as ‘milk’ or ‘meat.’ This presumably would cause those who manufacture vegetable and mushroom based burgers to change their parlance, as well as those who market coconut, almond, soy and other plant-based milks.

Florida Gov. Ron DeSantis, no particular ally of Simpson especially given the ongoing debate about whether the Governor’s Office or the Department of Agriculture and Consumer Services will helm the illegal immigration fight in the state, stood opposed to the “lab grown … fake meat” movement last year, signing a ban on cultivated proteins the agriculture department sought.

Simpson told a House committee Tuesday the “fake meat” ban protected farmers.

The farm bill covers a lot of other ground also, including providing local control over farm-based solar farms, banning banks from discriminating against farmers and ranchers based on environmental policy, updating the concealed weapon permit process, making stealing checks from mailboxes a felony offense, and requiring schools to provide 4H and Future Farmers of America facilities.

The Commissioner contextualized the bill.

“This legislation is a strong step forward to defend Florida’s agricultural industry and the hardworking farmers, ranchers, and growers who fuel our economy. By standing up to overreach and ensuring our agricultural community thrives, we are preserving our state’s heritage and safeguarding its future. Florida’s agriculture industry deserves the best, and through Senator Truenow and Representative Tuck’s efforts we are delivering on that promise,” Simpson said.

Lawmakers offered their own takes.

Truenow said the bill was “about standing up for common-sense policies that protect our agricultural lands, support local businesses, and ensure Florida remains a leader in agriculture.”

And Tuck said “safeguarding our farmers and ranchers from discriminatory lending practices and bolstering consumer protections” is “ensuring a brighter, more secure future for Florida agriculture.”


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