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Senator calls House approach to pension “wrong,” “ill-conceived”

by John Kennedy | March 20th, 2013

The legislative standoff over revamping the Florida Retirement System hardened Wednesday — with Sen. Jack Latvala deriding the House approach as “wrong” and “ill-conceived.”

The Senate Community Affairs Committee approved its more modest approach to the $136 billion fund on a 5-3 party-line vote, with Democrats opposed.

The Senate proposal (CS/SB 1392)  by Sen. Wilton Simpson, R-Trilby, would give new public employees an incentive by cutting their payroll contributions to 2 percent if they join the state’s 401(k) styled investment plan.

If workers choose the traditional, defined benefit pension plan, they’d pay 3 percent. The only new workers required to join the investment plan would be senior managers, under Simpson’s bill.

The House, by contrast, is looking to close the Florida Retirement System’s defined benefit plan to new employees. The legislation (CS/HB 7011) is expected to clear the House on Friday — over opposition from outnumbered Democrats, who are siding with union allies who are fighting the changes.

The legislation is a top priority of House Speaker Will Weatherford, R-Wesley Chapel, who maintains that the FRS is underfunded and will command increasing millions of dollars from Florida taxpayers to keep it afloat in future years, a stance disputed by many experts.

The Senate’s Simpson also downplays House warnings about the state of the pension plan.  He also told fellow senators “it would be a cold day,” before he would fold and go along with the House approach.


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7 Responses to “Senator calls House approach to pension “wrong,” “ill-conceived””

  1. Ted the Nimble Says:

    This pension plan like all other liberal conceived plans will be underfunded. But Unions and Dems don’t care. After all we the tax payers pay for it.


  2. E.T. Says:

    I want to apologize for the lack of information your political leaders have provided to you.  Floridas retirement system is one of the best funded systems in the country, and would have maintained that standing had it not been messed with to begin with.   However even with the changes it is still the best funded and will be, the studies prove it if you take the time to read them.   Also, I apologize for firefighters, paramedics and police officers wanting to make sure that the new hires still have the same benefits those already on the job. What benefits you ask, oh yeah they are forgetting to mention that if they die or get seriously injured on the job the state will no longer pay a line of duty or disability benefit.  So who in their right mind would want to into a burning building, go after an active or go into an unknown secure area for a sick person, if their family isn’t taken care.  All of public safety wouldn’t mind contributing more, but when times get tough, they are the first ones to not get a pay raise or even get a pay cut, they are the first ones to get laid off, why, because they are the most visible and can’t strike to fight it.  I also apologize should you ever get sick, seriously injured, or house catch on fire, or you need the police because those new employees who do enter the work force won’t be as high of caliber and caring people. One last item,if you look at the education required,training completed, and what is on the job expectations, all public safety employees are NOT paid what private sector employees are paid!  One last thing you and all others forget,these public safety workers all pay taxes too, so they are paying twice,once when they pay taxes and once when they get paid!

  3. mary Says:

    Thank you ET, it seems to me that the Public for gets who comes to help them when there family is in the house on fire, or damage from Hurricanes or crime. This isn’t a perfect world and yes there are good and bad public employees but my Father has never once failed to run into a fire and save, yes save someone or someones animal. He has been at plane crahes where bodies were everywhere even in trees. Could Nimble do such a thing and how much is that worth. There is not enough money in the world for me to do what he does. But making sure his family is taken care of if he should die or worst burned where he has no more skin. And you know what you would still have to hold him back because he would run in and help those in side. Hello the bums in Tall get all for free and make it a life time, boot them all out.

  4. CMG Says:

    All public safety personnel should be held in the highest regard for the work they do to protect our communities. And let’s not forget that with the best possible educators, comes a more educated public, a public that will be better informed about safety and less likely to cause crimes.

  5. Searcher1 Says:

    Some of these employees risk their lies, and the TEAliban just wants to cut their benefits. WAY TO GO, GOP!

  6. Fed-up Says:

    To Ted the Schmuck….Have you gotten a raise in the last 5 years….those getting screwed by Scotty and his Repub/Teamorons haven’t….come election day…we will remember…

  7. homecleaners|domestic cleaners|house cleaning services|carpet cleaning|liverpool Says:

    I don’t even know how I finished up here, however I assumed this put up was great. I do not know who you’re however certainly you’re going to a famous blogger if you are not already. Cheers!

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