Florida Unlikely To Approve Changes To State Pension

By: Associated Press News Email
By: Associated Press News Email
For the second year in a row, it appears legislators will reject changes to the state

MGN Online

News Release: Associated Press News
April 30, 2014

TALLAHASSEE, Fla. (AP) -- For the second year in a row, it appears legislators will reject changes to the state's pension plan.

The Florida Senate on Wednesday refused by a 21-15 vote to take up a bill that would steer public employees away from the state's traditional pension plan, also known as the Florida Retirement System.

The bill passed by the Florida House would stop elected officials and top employees in state government from enrolling in the state's traditional pension plan.

The legislation would also automatically place newly hired public employees in an investment 401(k) plan if the employees failed to make a choice within eight months of starting their jobs.

House Speaker Will Weatherford acknowledged that the bill was in "trouble" with just two days left in the annual session.


News Release: Associated Press News

TALLAHASSEE, Fla. (AP) -- The Florida House is poised to pass a bill that would stop elected officials and top employees in state government from enrolling in the state's traditional pension plan.

The House spent nearly two hours on Thursday discussing the legislation, which would automatically place newly hired public employees in an investment 401(k) plan if the employee failed to make a choice within eight months of starting their job.

The measure would not take effect until July 2015.

The House could take a final vote on the bill (HB 7181) this week. A similar proposal is moving in the Florida Senate, but it's unclear if the measure will pass.

House Speaker Will Weatherford has made changes to Florida's pension system a top priority but has had trouble winning support from senators.


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