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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