BREVARD COUNTY, Fla. — Some say Brevard County's largest city can't afford to pay its retired police and firefighters. Palm Bay's pension fund is so expensive it's worth more than all of the city's assets.
One board member says every household would have to shell out almost $4,200 over 28 years to bring them back where they should be.
Firefighters in Palm Bay are already among the highest paid in the county, and after 28 years of service many can walk away earning more from their pension and added benefits than their base salaries, thousands of dollars more.
City council member Milo Zonka says the city has already had to raise taxes in the past to cover the fire pension.
"More than half of each of those millage increases were directly attributable to the increasing cost of the fire pension," Zonka said.
The city's fire pension is projecting a $19.5 million shortfall. The union president said they were willing to make concessions, but the city said they weren't enough.
David Ginsburg, with the Palm Bay Firefighters Union, said many stayed with the department for years thinking the pension would be there.
"I believe fire and police deserve these pensions and we've given up things in the past to get these pensions," Ginsburg said.
The union president says the pensions don't cover health care or factor in overtime pay.
Some taxpayers WFTV talked to were surprised to hear how much pensions are costing them. However, taxpayer Marelena Gol said a fire department is something they can't live without.
"You don't want to be paying taxes to the point you lose your house. Look how many homes in Palm Bay are in foreclosure," she said.
The firefighters union hasn't voted on the new contract with the pension cuts. The fire union is not supporting incumbents who have voted to reduce pensions.
WFTV
