Editorial: Naples pension fund

That air of denial was exacerbated by the paid advisers who could have helped -- the funds' longtime attorney and financial adviser. At least they could have told City Council that such shortfalls would be made up by employees themselves rather than city taxpayers. The advisers should have known that because they were aboard in 1999 when the law was changed to say so.

But they did not.

The result of their inaction was a deeper bite than necessary from employees' paychecks effective in September after Kevin Rambosk left it to his successor as city manager, Bob Lee, to break the bad news.

That kind of consulting work merits a reward? Maybe in some quarters on Wall Street. But not here, despite city pension advisory boards' amazing vote of confidence last week.

With all the investment know-how and firepower available in Collier County these days, it ought to be easy to get fresh eyes on these public funds.

The job is left up to City Council where member Bill MacIlvaine, unable to get the advisers' support, ought to have better luck lobbying for tighter fiscal vigilance.