TALLAHASSEE After years of discussions about the tricky issue of overhauling Florida’s retirement system for government employees, a Senate committee Thursday approved a proposal that would shut future workers out of a traditional pension plan.
The proposal, sponsored by Senate Governmental Oversight and Accountability Chairman Ray Rodrigues, R-Estero, would require new employees as of July 1, 2022, to enroll in a 401(k)-style “investment” plan. Employees currently are allowed to choose whether to take part in the pension plan or the investment plan.
Rodrigues, whose Republican-controlled committee approved the bill (SB 84) in a party-line vote, said lawmakers have to make “difficult decisions” to maintain the long-term solvency of the pension fund. He pointed, in part, to a $36 billion unfunded actuarial liability, which is essentially a measurement of whether the fund is projected to have enough money to meet its future obligations.
Senate bill would end Floridaâs state pension option for new employees
Democratic lawmakers and representatives of labor unions opposed the proposal, long sought by Republicans, saying the prospect of a pension helps attract workers to government jobs.
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Updated Feb. 5
TALLAHASSEE â After years of discussions about the tricky issue of overhauling Floridaâs retirement system for government employees, a Senate committee this week approved a proposal that would shut future workers out of a traditional pension plan.
The proposal, sponsored by Senate Governmental Oversight and Accountability Chairman Ray Rodrigues, R-Estero, would require new employees as of July 1, 2022, to enroll in a 401(k)-style âinvestmentâ plan. Employees currently are allowed to choose whether to take part in the pension plan or the investment plan.
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The proposal, sponsored by Senate Governmental Oversight and Accountability Chairman Ray Rodrigues, R-Estero, would require new employees as of July 1, 2022, to enroll in a 401(k)-style “investment” plan.
The proposal would require future employees in the Florida retirement system to enroll in a 401(k)-style investment plan, and not a pension plan.
After years of discussions about the tricky issue of overhauling Florida’s retirement system for government employees, a Senate committee Thursday approved a proposal that would shut future workers out of a traditional pension plan.
The proposal, sponsored by Senate Governmental Oversight and Accountability Chairman Ray Rodrigues, R-Estero, would require new employees as of July 1, 2022, to enroll in a 401(k)-style “investment” plan. Employees currently are allowed to choose whether to take part in the pension plan or the investment plan.
Workers FL Union Busting Bill Hurts Those on Front Lines / Public News Service publicnewsservice.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from publicnewsservice.org Daily Mail and Mail on Sunday newspapers.
Sen. Ray Rodrigues, R-Estero, filed a proposal Jan. 8, 2021, to establish an Office of Resiliency.
TALLAHASSEE - Sen. Ray Rodrigues says the bill is about making sure workers have the final say about money they have earned. Critics say it is about “union busting.”
But a Senate committee Wednesday approved a bill that could lead to a battle during the upcoming legislative session about unions that represent teachers, firefighters, law-enforcement officers and other public employees.
The bill (SB 78), sponsored by Rodrigues, an Estero Republican who chairs the Senate Governmental Oversight and Accountability Committee, would affect the process of deducting union dues from employee paychecks.