Governor Scott: State Workers Should Move to 401Ks

By: AP
By: AP


Gov. Rick Scott says the Legislature's proposed changes to state pensions don't go far enough and wants to move to a 401K retirement plan for state workers.

Scott appeared at a news conference on Tuesday for Floridians
for Sustainable Pensions. That group is an alliance of the state's
business interests.

The state now fully funds the pension fund and the governor says
that is unfair to taxpayers. He wants workers to begin contributing
to their retirements like private sector employees.

State employees may soon be contributing to their pensions for
the first time under a bill passed last week by Florida lawmakers
amid union opposition.

The legislation would establish a tiered-system requiring higher
paid employees to put a larger percentage of their earnings into
their retirement.

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  • by My God is bigger!! on Apr 13, 2011 at 07:07 PM
    Lord you are an amazing God, and I declare that you touch Mr. Scott, and legislators, and that guide them with your Holly Spirit to do the right thing, and quick picking on the weak. In Jesus Name, AMEN!!
  • by Ima on Apr 13, 2011 at 09:53 AM
    How many years (or months) since Solantic employees got a raise? I bet it hasn't been 6 years. Yeah, I want my job to be more like private sector, so GIVE ME A RAISE or SHUT UP.
  • by Random Govt Employee Location: Gadsden on Apr 13, 2011 at 05:39 AM
    One Word: Enron
  • by State Worker Location: Chattahoochee on Apr 13, 2011 at 05:00 AM
    But it is fair to tax payers to help people that don't work and DON'T plan on working.
  • by Another State Worker Location: Tallahassee on Apr 12, 2011 at 08:55 PM
    State Workers Should Move to 401Ks? Scott should move back up north!
  • by BACKBONE OF FLORIDA on Apr 12, 2011 at 07:58 PM
  • by Former Private Sector Location: Tallahassee on Apr 12, 2011 at 07:16 PM
    Private employers makes the employee contribution "optional" not mandatory, with the incentive of the employer matching the contribution. Why should I trust the state of Florida to invest my money with their management firms when the state admits they are broke and can't manage their own budget? Just saying....
  • by stateworker1 Location: Tallahassee on Apr 12, 2011 at 05:50 PM
    If the Gov. wants the stateworker to be like a private sector worker, why does he pay us the same way. We have not had a pay increase in 7 years. Nowm can you say that about the private sector employees?
  • by Anonymous on Apr 12, 2011 at 05:07 PM
    So how will this help create any jobs. Anyone who can find another job will leave the state, taking private sector jobs from others and everyone else will be working for the state until they die, because they can never afford to retire. With no drop and no money left in their pay to set aside for retirement,there will be no state jobs avalable for younger workers.
  • by Rufus Location: Tally on Apr 12, 2011 at 04:35 PM
    All that will do is line the pockets of brokers, fund managers and the like. Fees on individuals will be prohibitive and make it harder to get a decent return. At least with a pension plan investment can be done with on a large scale and at a lower cost than individuals with 401Ks. Stateworker salaries are low, unlike the City of Tallahassee, Leon County and the federal government. Florida is being unfairly compared to other areas of government recently highlighted for exhorbitant salaries. The benefits are better to retain workers in the state workforce. The problem is not the retirement system, its with managers who won't act to purge deadweight from their staff and replace them with those that want to work hard instead of coasting. There should be plenty of unemployed out there eager to get a job, and they are willing to work for less. The Gov. is tarded.
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