Local pension plan passes Senate

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A bill (SB 1128) to make a number of changes to local pension plans passed the Senate Monday, reports the News Service of Florida. The bill prohibits benefits after July 1 from including sick leave and annual leave in the calculation of pension benefits. The bill limits the number of overtime hours that can be used to calculate retirement benefits. It also requires that local governments offer a defined contribution plan as an option for employees. The bill was rolled to third reading. The bill passed 33-4.

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.