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Pension

Florida House approves pension changes for state workers

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Public employees will get steered away from Florida’s pension plan under a bill approved by the Florida House. The House voted 72-38 for a measure that would 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. The legislation would apply to all new employees hired in July 2017 or after. For several years, House Republicans have tried to make changes to the Florida…

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Jeff Brandes leaves Tallahassee with impressive bill record

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Florida state Sen. Jeff Brandes is home from Tallahassee with a list of accomplishments this session. Of bills he proposed, at least nine are on their way to the governor for a signature. One of the bills Brandes is most excited to see make its way to Rick Scott’s desk is the Local Government Pension Reform bill. Senate Bill 242 is what Brandes says “looks like a minor bill, but will have a huge impact.” If the House version of the bill, HB 1309,…

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House Democrat opposition to FRS reform is like apple pie

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State House Democrats say the push to change the pension system for government workers is based on flawed and unlikely assumptions. Speaker Steve Crisafulli wants to overhaul the Florida Retirement System. The goal is to move new workers out of the traditional defined-benefits plan to a 401(K) type defined-contribution plan that would be more portable for when workers leave government jobs. Reform efforts in the past stalled in the Senate where members note that with the ability to pay 86.6…

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