Why your pensions will be lost. Look at 55:14

[Unregistered]

https://thefloridachannel.org/videos...ccountability/

[Unregistered]

Comparing hotel, restaurant workers, Disney employees, and public sector jobs lost.

Yes, these jobs are comparable to law enforcement, fire rescue, state attorney's office, and road maintenance private sector jobs. This is why your pensions will be lost. People like this being voted in ever year.

[Unregistered]

Comparing hotel, restaurant workers, Disney employees, and public sector jobs lost.

Yes, these jobs are comparable to law enforcement, fire rescue, state attorney's office, and road maintenance private sector jobs. This is why your pensions will be lost. People like this being voted in ever year.

What do you mean our pensions will be lost.

[Unregistered]

New state employees will be in the 401k plan rather than in the pension plan. The actuary study which will be ready in March will determine if this is financially feasible. These changes will not affect current county employees or retirees.

[Unregistered]

I'm sure this will help us get even better employees,just like the restructuring of FRS in 2011, what a cluster f##k

[Unregistered]

New state employees will be in the 401k plan rather than in the pension plan. The actuary study which will be ready in March will determine if this is financially feasible. These changes will not affect current county employees or retirees.

If the pension plan is unsustainable now with the members. Then the only logical choice is to increase the contributions from the current members in the pension.

You will have no new members contributing to the pension system. Therefore 3% becomes 10%. Then after awhile 10% becomes 15% who do you think's going to make up the difference, the state.

[Unregistered]

If the pension plan is unsustainable now with the members. Then the only logical choice is to increase the contributions from the current members in the pension.

You will have no new members contributing to the pension system. Therefore 3% becomes 10%. Then after awhile 10% becomes 15% who do you think's going to make up the difference, the state.

The legislature will wait for the actuarial study due in March before it makes a decision on a course of action. Keep in mind as retirees die off with no new ones to replace them the pension fund's liabilities decline as well so less money is needed. The actuaries figure all this stuff out and give the numbers to the legislature. All we can do is wait and see what the legislature decides to do.

[Unregistered]

I know several people that are no longer in the FRS, they took the one time money option. If you did 25, you got just under a million dollars and with a good financial firm you can get a guaranteed 4%. Combine that with early deferred compensation like the 457 you would easily be over a million.

Now that you have to do 30, that should put you over the million mark and if you don't have deferred comp, DO IT NOW.

[Unregistered]

If the state should go 401k for new employees. The guys with the pension will be safe. The state taxes will have to provide the pension until the last pensioner dies off. I don’t see this happening because they won’t get anyone to do the job. The sheriff offices in the state will put their two cents into the discussion about hiring quality applicants. Do you think the judges and state prosecutors are fit this? Florida still has a surplus of cash.

[Unregistered]

If the state should go 401k for new employees. The guys with the pension will be safe. The state taxes will have to provide the pension until the last pensioner dies off. I don’t see this happening because they won’t get anyone to do the job. The sheriff offices in the state will put their two cents into the discussion about hiring quality applicants. Do you think the judges and state prosecutors are fit this? Florida still has a surplus of cash.

They don't care about the quality of new hires just cutting the budget and saving money, that's what this 401k is all about. They will lower standards just to hire more bodies to fill the slots. As for the sheriffs, they can accept the state 401k if mandated to do so or ask their respective counties to start a pension fund. Guess which option the county commissions will choose - the cheapest one which is the state 401k.

As for the alleged FRS surplus of cash, there isn't one because according to the guy in the video the pension portfolio is only 82% funded. The FRS commission may have to raise the rates current employee pay from 3% to ???