FRS. The beginning of the end. - Page 2
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  1. #11
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    so to be clear. The money in the FRS pension plan dosen't just sit there. The state invests the money generating a return/profit. They could stop enrollment today and it would remain solvent .

  2. #12
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    Quote Originally Posted by Unregistered View Post
    No. The legislature will not have to raise taxes. Every year the legislature gets an actuarial report from the Department of Management Services and based on that report, the legislature will set the percentage that every county ( 67 in total) will have to pay the state to keep the payment of the retiree benefits. All the FRS members are able to see this amount minus the 3% the employees contribute in their biweekly paycheck. Again it is going to be a very slow death. The fact that special risks are exempted was a small victory. Special risk members are 12% of the FRS membership and after July 1 2022 will be the only ones contributing to the pension plan. Again most of us will not see the real effects but how can the future pension plan retirees will get their benefits?
    Yes. How would the 67 counties get the money? From taxes paid to said counties.

  3. #13
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    Article 1 section 10 of the Florida Statutes clearly states that the FRS membership is a contractual obligation between the state and the employee. The Florida Supreme Court prohibited the legislature to change any conditions of the retirement system.Florida Supreme Court only allows any changes to be prospective, meaning in the future. In other words anyone hired before July 1. 2022 is exempt from SB 84, which by the way was approved and certified today 26 in favor and 16 against. With 22 more days of session left this bill is a sure thing unless Desantis veto it,not likely.

  4. #14
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    You fools are slowly losing your pension benefits yet you keep voting Republican. You blindly give your power away to group of politicians who want nothing else but to gut that plan, chop it up and give it to their stockbroker and investment banker supporters. That's when you'll see those maggots eat away at your little nest egg with all their individual fees, etc.

    I'm not saying to just vote Democratic either. I'm saying make them work for your vote. Vote for the party that serves your best interest.

  5. #15
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    Quote Originally Posted by Unregistered View Post
    You fools are slowly losing your pension benefits yet you keep voting Republican. You blindly give your power away to group of politicians who want nothing else but to gut that plan, chop it up and give it to their stockbroker and investment banker supporters. That's when you'll see those maggots eat away at your little nest egg with all their individual fees, etc.

    I'm not saying to just vote Democratic either. I'm saying make them work for your vote. Vote for the party that serves your best interest.
    You need to send this wonderful message to PBA morons.

  6. #16
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    The PBA has a horrible & self serving track record.

    FRS was funded at 106+% until the friends of the PBA on the SBA (ALEX SINK, BILL MCCOLLUM, CHARLIE CRIST) invested in a financial scheme that tanked and took $24+ billion of FRS money with it. Look it up.

    Dems & Repubs are all corrupt. They wouldn’t be in politics if they weren’t. Third party is a utopian pipe dream.

    Make the best out of your box of lemons and take care of your family and fellow Leo’s.

  7. #17
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    Quote Originally Posted by Unregistered View Post
    The PBA has a horrible & self serving track record.

    FRS was funded at 106+% until the friends of the PBA on the SBA (ALEX SINK, BILL MCCOLLUM, CHARLIE CRIST) invested in a financial scheme that tanked and took $24+ billion of FRS money with it. Look it up.

    Dems & Repubs are all corrupt. They wouldn’t be in politics if they weren’t. Third party is a utopian pipe dream.

    Make the best out of your box of lemons and take care of your family and fellow Leo’s.
    It is because of he PBA you have a very generous pension. A financial scheme? The State board of Administration is basically the regulatory body of the FRS. The Governor, chief financial officer and tha Attorney General are the SBA. SBA has a very qualified group of financial advisors that are the ones responsible for investments of the FRS funds. If there was scheme by these elected officials, where was the FBI, FDLE? Of course there is corruption in both parties, but making false accusations is John irresponsible.

  8. #18
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    Quote Originally Posted by Unregistered View Post
    It is because of he PBA you have a very generous pension. A financial scheme? The State board of Administration is basically the regulatory body of the FRS. The Governor, chief financial officer and tha Attorney General are the SBA. SBA has a very qualified group of financial advisors that are the ones responsible for investments of the FRS funds. If there was scheme by these elected officials, where was the FBI, FDLE? Of course there is corruption in both parties, but making false accusations is John irresponsible.
    Sorry meant just irresponsible. Any implication I meant John Rivera is just a typo.

  9. #19
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    I retired almost 10 years ago will this affect me? If it does how can I protect my retirement?

  10. #20
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    Quote Originally Posted by Unregistered View Post
    I retired almost 10 years ago will this affect me? If it does how can I protect my retirement?
    No.

    You can’t.

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