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Florida House Pension Reform Package Now In Senate's Hands

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A controversial pension reform bill that just passed the House is now in the Florida Senate’s hands.

The Florida Senate unanimously passed a bill that supporters say would help stabilize the state retirement system. In a message to the House, the Senate requested the House pass the bill as is. Still,  Rep. Matt Caldwell (R-North Fort Myers) replaced the Senate bill with his pension reform package.

A controversial provision in the House version shifts new public employees to the state’s less popular retirement option—the 401 K style investment plan—seen by bill critics as more risky.

Currently, that default if a choice is not made is the traditional pension plan.

“So, the default change is to guarantee that those employees who don’t make a choice—and here we’re assuming that 35 percent will default into the investment plan—that those employees will be able to take their retirement benefits with them when they sever employment within a period of less than eight years,” said Caldwell.

But, Rep. Loranne Ausley (D-Tallahassee) says the House should have stuck with the Senate bill.

“This is one of the oldest tricks in the book: take something that is bad and controversial and attach it to something that’s necessary and on-controversial and hope that the Senate is just going to take a gulp of water and swallow that pill,” she said.

And, after passing the House bill 74-41, the measure now heads to the Senate.

For more news updates, follow Sascha Cordner on Twitter: @SaschaCordner.

Sascha Cordner has more than ten years of public radio experience. It includes working at NPR member station WUFT-FM in Gainesville for several years. She's worked in both radio and TV, serving in various capacities as a reporter, producer and anchor. She's also a graduate of the University of Florida with a bachelor's degree in telecommunications. She is the recipient of 15 awards from the Associated Press, Society of Professional Journalists (SPJ), and Edward R. Murrow. Her award-winning stories include her coverage on the infamous “Dozier School for Boys” and a feature titled "Male Breast Cancer: Lost in the Sea of Pink." Currently, Sascha serves as the host and producer of local and state news content for the afternoon news program "All Things Considered" at WFSU. Sascha primarily covers criminal justice and social services issues. When she's not reporting, Sascha likes catching up on her favorite TV shows, singing and reading. Follow Sascha Cordner on Twitter:@SaschaCordner.