While Awaiting Study, Florida House Begins State Pension Overhaul Talks

Feb 18, 2015

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While the Senate has said it won’t start any talks to reform Florida’s Retirement System this year, a House panel is moving forward.

During Wednesday’s presentation, House State Affairs Committee members heard that Florida’s Retirement System is funded at 86.6 percent—a percentage proponents of the system say means it’s, “actuarially sound.”

Still, the Republican-led House is considering reviving an idea that failed last year. It would close the state’s pension plan—the most popular retirement option—to new employees hired after July 1st of next year. But, Democrats, like Rep. Irv Slosberg (D-Boca Raton), don’t see the point.

“The question is why are we closing the pension plan to new enrollees,” asked Slosberg. “Why are we doing this?”

Meanwhile, the results of a special study—requested by House Speaker Steve Crisafulli last month—looking into the reform’s feasibility are slated to come during the first week of Session on March 6th.

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