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Florida House subcommittee to discuss Florida Retirement System restrictions for state workers

6:54 AM, Jan 24, 2013   |    comments
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TALLAHASSEE, Fla. -- ( The House Government Operations Subcommittee will discuss a bill that would restrict new state employees from entering into the pension program within the Florida Retirement System.

A draft of the proposed bill states it would close the FRS defined benefit planned to state workers after January 1, 2014 and force them into its less popular investment plan.

In November, state House Speaker Will Weatherford, a Republican from Wesley Chapel, said the FRS pension plan was archaic and destined for failure and restricting it would prevent the state from massive budget woes faced by California and Illinois. The state's union leaders have contended that the pension plan is one of the healthiest in the country and restricting new employees from taking part was only an attempt to get rid of it.

Lawmakers likely will not have trouble making changes to FRS. A Florida Supreme Court ruling released last week determined the Legislature did not violate the state constitution when it forced the 620,000 active public employees participating in FRS to contribute 3 percent of their pay. The high court found that the Legislature, indeed, could make changes.

The House panel meeting will commence at 8 a.m. in room 212 of the Knott Building at the Capitol.

Check for updates or follow reporter Arek Sarkissian II on Twitter; @TDSarkissian on Twitter

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