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01-06-2011, 03:04 PM #11
Re: Rick Scott said 6% now he wants 9.6%, thanks 4 voting Scott
You folks need to wise up. We have long had the BEST plan in the nation. When you are vested in just 6 years, it is no wonder they are having problems. It seems to me that would be the easy fix. Put it back at 10 years. It will keep some of these folks that are just here for the pay check working longer before they run off with all their training for a higher paying, less dangerous profession. This office has gone so far down hill it is shocking. I'm just glad I can retire any time I want.
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01-06-2011, 04:38 PM #12
Re: Rick Scott said 6% now he wants 9.6%, thanks 4 voting Scott
Be sure you send Gov. Scott your ideas and suggestions on how to close the $17 billion FRS fund deficit without raising taxes and employer contributions. The truth is that there is no money available so suck it up and deal with the inevitable pension benefit cuts by compensating with your own personal savings.
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01-06-2011, 05:31 PM #13
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Re: Rick Scott said 6% now he wants 9.6%, thanks 4 voting Scott
Fact is that Scott requested figures so he could do his own study on the FRS fund. Problem is he asked for numbers that only showed the fund was in trouble. If you look at the numbers that are given by the State and fund managers the fund is in fine shape, and probably even better over these last few weeks with the market up.
Before he even tries touch the fund, he needs to have a full review of the fund with ALL of the funds numbers. If there needs to be changes then the changes should be across the board in every category.....including judges, state senators, state representatives and even the governor.
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01-07-2011, 04:10 AM #14
Re: Rick Scott said 6% now he wants 9.6%, thanks 4 voting Scott
Originally Posted by Average Joe
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01-07-2011, 04:48 AM #15
Re: Rick Scott said 6% now he wants 9.6%, thanks 4 voting Scott
Never let facts get in the way of a juicy conspiracy story...
Gov. Scott has to deal with a $3.5 billion state budget deficit thanks to the Crist administration. Unlike Obama, he cannot print money and keep borrowing kicking the can down the road for the next administration. He and the legislature have to balance the budget by cutting here and there. Gov. Scott also has to find ways to attract business to Florida to create more jobs which helps everyone.
On the pension issue, Gov. Scott and the legislature use independent actuaries to audit the pension fund and determine its long term viability. The audits show a $17 billion shortfall and unrealistic projected future returns which, if they don't materialize, could increase the shortfall. Better off to take action now before we end up like California, Ilinois, New-Jersey, etc.
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01-07-2011, 08:33 AM #16
Re: Rick Scott said 6% now he wants 9.6%, thanks 4 voting Scott
Originally Posted by Guest
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01-07-2011, 03:22 PM #17
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Re: Rick Scott said 6% now he wants 9.6%, thanks 4 voting Scott
Originally Posted by Guest
And these same people that do these studies will tell you that a healthy pension fund is one that is 80% funded. Scott claims ours is 85% funds, but he isn't satisfied.
The problem with the states you reference is that they pay 100% of the medical care. That is why those states are in trouble. In Florida we get about 10% of our medical paid. An that amount is not based on the insurance costs, but how many years you serve. Thus with the rising insurance rates we don't get more money from the state.
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01-07-2011, 10:03 PM #18
Re: Rick Scott said 6% now he wants 9.6%, thanks 4 voting Scott
Feel free to write to Gov. Scott and tell him how to balance the state budget with a $3.5 billion deficit and come up with the $17 billion to bring the FRS pension fund to 100% funding so that it doesn't end up like the ilinois, California, New-Jersey, etc. pension plans.
You Democrats need to get over it, Alex Sink lost and Rick Scott is governor.
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01-07-2011, 11:48 PM #19
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Re: Rick Scott said 6% now he wants 9.6%, thanks 4 voting Scott
Originally Posted by Guest
There is no need to have 100% because you will never lose 100% of your employees. That is why the experts say a pension fund at 80% funding is very healthy. Florida is at 85% and getting better.
The only mistake Florida made, in my opinion, was to vest employees at 6 years from the original 10 years.
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01-08-2011, 03:21 AM #20
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Re: Rick Scott said 6% now he wants 9.6%, thanks 4 voting Scott
Originally Posted by Average Joe
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