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The town faces unfunded pension liabilities of approximately $23 million.
Longboat Key Friday, Sep. 26, 2014 7 years ago

Report flunks firefighter pension plan

by: Robin Hartill Managing Editor

The LeRoy Collins Institute released its report card for Florida municipal pension plans, and the town wasn’t surprised by its grades.

Longboat Key’s firefighter plan received an “F,” and both its general employees and police officer plans received “Ds.”

But there is good news: The grades are actually an improvement from previous years: The Collins Institute flunked all three of the town’s plans for the last three consecutive reports.

And the latest report is based on measures of each plan from 2012, before the town froze all three plans.

“It wasn’t a big surprise but it was good to see that we’ve improved a little, and hopefully as we move through, they’ll grade a little better,” said Anne Ross, assistant town manager.
Longboat Key’s firefighter plan was the only plan in Sarasota and Manatee counties to receive a failing grade in this year’s report.

For more information, pick up an Oct. 2 copy of the Longboat Observer.

Contact Robin Hartill at [email protected]

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