Issue link: https://newsleader.uberflip.com/i/90018
Sarasota News Leader October 26, 2012 man, T.J. Broom. "I support 7.5 at this time, and we can revisit it next year." Timing was important, because the change will take effect on Oct. 1, 2013 for the Fiscal Year 2014 books. HICCUP WITH THE COUNTY The firefighters' pension is an oddity because the city relinquished its fire department to the control of Sarasota County in 1996. Both gov- ernments are jointly responsible for keeping the pension plan solvent. The fund's actuary – who calculates dollars versus lifespans – put the situation this way in September: "The annual cost of the plan will trend towards cash flows. Sixty-two cents of benefit cash will be paid by investment re- turns," said Brad Armstrong. "The remainder will be funded by the city and county." Page 33 Pension Board Trustee Sheila Robertson last Wednesday asked, "Is any city financial staff reaching out to the county financial staff on this recommendation?" City Auditor and Clerk Pam Nadalini – who is also a trustee of the plan – replied, "Not that I know of. The city Finance Department should reach out to the county." In fact, as the pension crisis unfolded, Sara- sota County Administrator Randall Reid sent a letter in early April to Interim City Manager Terry Lewis suggesting the firefighters' pen- sion should be an agenda item during the April 17 joint meeting of the two commissions. "The city never responded," said Steve Bothel- lo, the county's chief financial planning officer. "The agenda was not changed." Enter To Win A New iPad When our "Likes" on Facebook reach 1,000, we will randomly select one of our subscribers to receive a new iPad. 1 Click here to Subscribe The contest concludes when The Sarasota News Leader achieves 1,000 "Likes" on Facebook, One winner will be selected at random from among subscribers. Only subscribers are eligible to win the iPad, regardless of having "Liked" our page on Facebook. Contest is open only to residents of Sarasota County. Selected winners must provide a valid Sarasota County street address to receive the iPad. Contest is void where prohibited by law. 2 Then Like Us On Facebook