Today Senator Ring introduced several amendments to SB 2100 that (as we read and interpret) make the following notable and positive changes
Wow, what a difference a day makes. Today Senator Ring introduced several amendments to SB 2100 that (as we read and interpret) make the following notable and positive changes:
- · The DROP would be extended for five more years. This would allow members to enter the DROP up until July 1, of 2016.
- · Special Risk would retain the normal retirement ages of 25 years of service, or age 55.
- · Allow up to 300 hours of overtime in the calculation of Average Final Compensation
- · Specifies DROP members do not have to make employee contribution.
These are all steps in the right direction!
Continue reading “Some better news, new amendments to SB2100 an HB1405”
Representative John Tobia (Republican from Melbourne) offered five new amendments to House Bill 1405. The amendments would bring HB 1405 in line with Governor Scott’s recommendations
Representative John Tobia (Republican from Melbourne) offered five new amendments to House Bill 1405. The amendments would bring HB 1405 in line with Governor Scott’s recommendations. As we read and interpret the changes, they include:
- · Reduces the service credit for future years of service in the Special Risk, Elected Officers, and Judges from 3% to 2%. Amendment 460885
- · Eliminate the Cost of Living Adjustment for Pensions and the DROP after July. Amendment 279579
- · Eliminate overtime in the calculation of the Average Final Compensation. Amendment 696491
- · Raises the Employee contribution up to 5% across the board (it had been reduced to 3% in committee). Amendment 328909
- · Reiterates the closing of the Pension Plan after July 1, and mandates all new members to the Investment Plan. Amendment 251959
Continue reading “Rep. Tobia offers severe amendments to HB 1405!”
The Senate Budget Committee introduced a new Committee Bill today, SPB 7094. The bill reworks many of the terms of SB 1130 to the detriment of current members.
The Senate Budget Committee introduced a new Committee Bill today, SPB 7094. The bill reworks many of the terms of Senator Ring’s SB 1130 to the detriment of current members, and brings the Senate version much closer to the House version. The committee is headed by Republican Senator J.D. Alexander. As we read the new proposal, which is to be heard by the Committee on Wednesday, it proposes to:
· Does away with the DROP program after July 1, of 2011. It appears to read that you must enter the DROP prior to that date in order to be eligible. (lines 1857 through 1862)
· The Investment Plan will be mandatory for ALL new hires after July 1, 2011, and will not be eligible for a Pension. (lines 888 through 896
Continue reading “Senate backtracks, new bill proposed!”
Scapegoating public employees seems to be more of an assault on working people and the middle-class,
The following is a letter we received from a Tax-paying Florida Citizen, who is not associated with the Florida Retirement System. We found it to be refreshing, and wanted to share it with our readers. Thank you for your perspectives Mr. Cassidy!
To FRS Options,
I am not in the FRS. I am also not related to anyone in it. I am really just a concerned Florida taxpayer, who does not believe that scapegoating public employees is fair or right. I do not believe that one small group of people should be punished, and essentially “taxed,” just because they chose a job or a career in public service.
Continue reading “Thoughts from a non FRS member!”
The biggest change as we see it would indicate the amended version will allow for up to 500 hours of overtime to be used in the computation of the Average Final Compensation
Today the Florida Senate returned a “Strike-All” Amendment to Senate Bill 1130 which is meant to reform the Florida Retirement System. The purpose of the “Strike-All” was to amend the language and stipulations of the original bill, filed by Senator Jeremy Ring. There were also 5 additional amendments proposed changing other aspects of the proposal.
- The biggest change, as we read it, would indicate the amended version will allow for up to 500 hours of accumulated leave payments to be used in the computation of the Average Final Compensation. (lines 208-248, and 274-308). And further appears that for service prior to July 1, 2011 overtime is included.
This seems to be a significant compromise to the original proposal, but excludes overtime after July 1. It does not mitigate the fact that overtime is time worked for compensation earned, and therefore, as compensation, should be used for the AFC calculation. Continue reading “Amendments to SB 1130 FRS Reform”
NEVER come across as negative, conflict oriented, or otherwise play into the hands of the politicians, who want pictures of workers with pitchforks massing as the gates.
We received this letter from the following individual, and felt it was such a well rounded and wonderful perspective, that with the author’s permission, we have copied it verbatim. I urge you ALL to read it, absorb it, and take action accordingly! Thank you Paul!
Subject: Concern over Legislative Season
By way of introduction, I am a retired Martin County deputy. Politically I am libertarian…
As I read the various posts on Facebook and elsewhere by public sector employees, I am struck with a fear that the attitude being conveyed by far too many public employees is playing directly into the aims of the political structure and their media supporters. The actions in Wisconsin are especially troubling. The political power structure wants to be able to paint the public employees as merely union followers using a pink brush, recognizing that the American voter, suffering under the current economic situation, can be easily led to consider public employees as the problem.
Continue reading “A letter to FRS members from one of you!”
Florida state legislators are members of the Florida Retirement System, just like every other State, County, or FRS member.
There have been a considerable number of posts and comments over the last several weeks about the benefits of our legislators, most of which are not true. Florida Legislators DO NOT GET 100% of their pay for life after one year of service, or any number of years less than 33 1/3, for that matter. Florida state legislators are members of the Florida Retirement System – just like every other State, County, or FRS member. As such, they are members of the Elected Officers Class and entitled to the following benefits:
- They have the same vesting schedule (6 years).
- The same formula for determining their benefits. To be eligible to get a benefit, a Senator or Representative must achieve age 62, or have 30 years of service.
- Legislators get 3% service credit for each year of service.
- They get the same health benefits as all other state employees.
You might be surprised to learn that both jobs, Senator and Representative, are considered part time jobs, and Legislator pay is in the area of $30,000 per year, plus $133 per day for expenses and travel to Tallahassee, for every day the session in is in session (up to 60 days = $7,980).
Continue reading “Florida Legislators Benefits”