Cape Coral Town Hall

Hosted by Take Out The Trash Committee of Cape Coral Inc.

Lake Kennedy Center

400 Santa Barbara Blvd, Cape Coral, FL 33991

Saturday, January 31 at 1:00pm

Additional info provided by tripledippers.org

Cape Coral Taxpayers Deserve Answers — And Property Tax Relief

Cape Coral taxpayers pay for one of the most expensive pension bonus schemes in Florida. Cape Coral spends about $2 million every year to operate its own standalone pension system so employees can receive nearly 50% higher pensions than School, County and State workers in the Florida Retirement System.

While families struggle with high property taxes and rising City water bills, City Hall quietly expanded its DROP pension bonus from Five years ($32.8 Million) to Eight Years ($52.4 Million) — a 60% increase in 2024 — while refusing to release the pension bonuses by employee name.

Under Cape Coral’s system, City employees can file “retirement” paperwork, but never leave their job. For eight years they collect a full paycheck and a full pension at the same time to do the same job— while paying zero into the retirement system!  City Employees cash out unused days off at their final highest pay, not the original pay taking more money from taxpayers and artificially increasing their pension bonus and annual pension! https://tripledippers.org/

Cape Coral initially replied no such public documents exist responding to a formal request for City Pension Bonus data by employee. After threatening a lawsuit, limited employee pension information was provided, but no pension bonus numbers. Why? Google’s Co-Pilot estimates that the City Manager Michael ILCZYSZYN annual pay $336,980, 5-year pension bonus was $1,159,353 and 8-year pension bonus will be $1,853,394

These Pension bonuses are funded by taxpayers — 85% whom have no pension at all. Joining the Florida Retirement System — which costs Cape Coral nothing to administer — would save approximately $2 million every year while still providing a strong, stable pensions. Outlaw or limit Pension bonuses to $50,000. Those savings could finally deliver real property tax relief for Cape Coral homeowners.