Pension Bill 303 Introduced

01-27-2011, 12:51 PM

Let's now see if your Florida Sheriffs, including Sheriff Gee, will stand up and fight to kill any changes to the FRS.

If changes are needed, I am all for them. I don't want some blowhard union bosses or a bunch of rookie LEOs or greedy politicians/sheriffs to ruin my FRS pension which I stand to collect in less than 2 years by refusing to pay up to fund it 100%. If employee contributions must start, of well, let's start them to keep the FRS pension fund viable for many more years. I don't want to wake up one morning when I am retired and read that the fund is in as bad a shape as some of the pension funds in NJ, CA, NY, IL. etc. and my benefits will be cut.

**Average Joe** · 01-27-2011, 01:21 PM

Originally Posted by Guest

Let's now see if your Florida Sheriffs, including Sheriff Gee, will stand up and fight to kill any changes to the FRS.

If changes are needed, I am all for them. I don't want some blowhard union bosses or a bunch of rookie LEOs or greedy politicians/sheriffs to ruin my FRS pension which I stand to collect in less than 2 years by refusing to pay up to fund it 100%. If employee contributions must start, of well, let's start them to keep the FRS pension fund viable for many more years. I don't want to wake up one morning when I am retired and read that the fund is in as bad a shape as some of the pension funds in NJ, CA, NY, IL. etc. and my benefits will be cut.

Why the 100%? You sound like they have got your ear.

FRS is currently funded at 87%. 87% is considered to be a very healthy funded pension. FRS funded at 87% is looked at around the country as a model to follow.

Some need to grasp that pension funds are not funded at 100% as 100% of your eligible work force will never retire at one time.

I challenge anyone to list a pension fund that is 100% funded. I don't think you can.

What is really happening is that Scott wants to reduce the government's contribution rate so he can spend the money in a different area. He wants you to run scared with the talk about eliminating "Special Risk" categorizes. What he really wants is at least a 5% contribution by the employees and a 10 year vesting rate. When all is said and done I do believe if you see any changes these are the changes you will see. Then all will sit back and say "when got a good deal as it could had been worse", and life will go on.

If you want to stop any change to the FRS you need to organize in numbers and show up for every committee hearing.

I don't want to wake up one morning when I am retired and read that the fund is in as bad a shape as some of the pension funds in NJ, CA, NY, IL. etc. and my benefits will be cut.

If you look at the pensions of these states you will see that they pay 100% health care for their members. The cost of health care to to costly to be a 100% benefit with the sky rocketing costs that states can not afford. If the plan goes up, so do the costs.

Florida capped their health care cost with a number, not a percent. Thus the employee encores any increase, not the pension plan. Currently the average payout is about $150 a month, not the $1000 a month for a health care plan.

01-27-2011, 08:13 PM

News from Jim Preston, President of the FOP State Lodge:

The Fraternal Order of Police met with Representative Costello this morning to discuss his House Bill 303 on Pension Reform. , He has agreed to work with us and advised he will be withdrawing his bill from further consideration.

We ,now have a seat at the table and will work to make sure any changes proposed will be fair and equitable to our members. , We can not agreed to anything that will ,take away what we have worked so hard for in the past.

01-27-2011, 11:14 PM

[/quote]

Why the 100%? You sound like they have got your ear.

FRS is currently funded at 87%. 87% is considered to be a very healthy funded pension. FRS funded at 87% is looked at around the country as a model to follow.

[/quote]

Unless I'm mistaken, the 87% number was the 2008 number, not the 2010or 2011 number, which would show an increase.

**Average Joe** · 01-28-2011, 02:35 AM

which is why the bill has been pulled and everyone is going to sit down and try to work things out if there is a problem.

Gov. Scott is jumping the gun with incorrect numbers and is going to have to listen before he can try to reduce the pension. And if he refuses to listen, then the House will be listen and just may refuse to bring the bill back.

**The Nitely Blog** · 01-30-2011, 03:21 PM

Bill 303 has indeed been withdrawn but it was just the first shot across the bow. Other shots are coming compadres'. If you have'nt already, I would suggest that you get online and find out who your represenatives are and how to contact them cause there will be another proposal. If you don't make your voice heard and stay informed you have no one to blame but yourself when ya get f'ed out of your retirement benefits.