Fla. House panel OKs worker pension contributions
Florida Governor Rick Scott's proposal to have most public employees contribute 5% of their salary to the state retirement system passed through a House committee. The bill would also raise the retirement age for firefighters, police and others up to 60 years old. The plan is estimated to save around $720 million a year. The unions say that they agreed to lower salaries for years in return for not having to pay into the retirement system, and that the plan will basically constitute a pay cut for most workers. A similar plan in the Senate would have employees pay between 2-4% if they made more than $40,000 a year, which most Florida public sector employees do not. Supporters of the bill say it is necessary to balance the budget.
See "Fla. House panel OKs worker pension contributions", The Miami Herald, March 17, 2011