PB Voters Approve Millage Increase for Pension Funds
By: Brittney Johnson
Updated: May 24, 2012
According to the Jefferson County Election Commission, Pine Bluff voters approved a millage increase to help take care of retired police and firefighters. Tuesday's results are still unofficial, it could be roughly ten days before they're certified.
Older pension funds for both departments have been in danger of running out of money over the next decade. The vote bumps the millage tax for the pension funds up two additional mill. The actuary handling the city's accounts says the increased tax funds will help stop the bleeding but they'll still need to find other ways to rebuild the depleting funds.
There are over 150 firefighters and police officers depending on the two programs.
For more on the pension fund problems, click here.
Older pension funds for both departments have been in danger of running out of money over the next decade. The vote bumps the millage tax for the pension funds up two additional mill. The actuary handling the city's accounts says the increased tax funds will help stop the bleeding but they'll still need to find other ways to rebuild the depleting funds.
There are over 150 firefighters and police officers depending on the two programs.
For more on the pension fund problems, click here.
