Sarasota's city election raises tough pension questions

SARASOTA - Sarasota's foundering pension system — and its underfunded $600 million promise to retirees — has become the key issue in the otherwise quiet City Commission elections.

For the first time in its history, the city expects to pay more toward retiree benefits next year than it will collect in property taxes.

According to city finance reports, pensions costs will increase an alarming 35 percent from this year.

Current City Commissioner Terry Turner, who is not up for re-election, expressed concern that the new commission will undo the plans spawned from "exhaustive" reviews by the city to reform the police pension.

Since the economic downturn, the city's pension investments have slumped, each year widening the gap from what the city has promised to current and future retirees and what it can afford to pay.

Sarasota Mayor Kelly Kirschner says the city will become financially "irrelevant" to its citizens if pensions continue to soak up the city's general fund, the roughly $53 million pot of discretionary money.

Kirschner said city residents can expect...

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