Excerpt: 'It's cause for concern but not for alarm.' That's how John Keane, executive director and administrator of the Police and Fire Pension Fund (PFPF), describes the current underfunding of the pension plan for Jacksonville's public safety employees who are currently enrolled in the fund. As of Sept. 30, 2007 the PFPF was underfunded (liabilities exceeded assets) by $534 million. According to figures provided by the Council Auditor's Office, that means the PFPF is underfunded by 36.5 percent.  MORE >>