Ask the PBA

What happened to the bill that was going through to reduce the amount paid to the investment plan to 2% instead of 3% ? Haven't heard anything else on this for those in the investment plan it would be another 1% boost . Thanks !

The pay still sucks though

Guys this isn't even official yet. Our great governor of the great state of Florida has not signed off on this yet.

Weatherford and company tried some underhanded move to cut off defined benefit to new employees today but it was narrowly defeated in the Senate.

Guys this isn't even official yet. Our great governor of the great state of Florida has not signed off on this yet.

Tricky Ricky! :devil:

So when does all this become finalized? Did we get Copp back?

What happened to the bill that was going through to reduce the amount paid to the investment plan to 2% instead of 3% ? Haven't heard anything else on this for those in the investment plan it would be another 1% boost . Thanks !

All pension legislation is dead on arrival for the 2013 session. That includes any tinkering with the percentages for the investment troopers. I don't understand why they felt they needed to "entice" people to sign on with the investment option or why they felt then needed to close the FRS to new hires? They have totally shut down the retirement COLA. If you are a new hire, why would you even consider sticking with the FRS if there is no COLA? You'll retire with 25 on and you'll get 75% of your best 5 and that's the exact same pension check you'll get every year till the day you die. It most likely won't amount to anything the day you leave. By the time you are 80 years old, it probably won't be enough to buy a pizza. By taking the investment option, a new hire will at least have some chance of getting ahead. It may not end up being 3%, but it most likely will be better than nothing at all, which is what the FRS is going to give them. In 2016, I think the legislature is suppose to revisit the COLA. We'll see if they decide to reinstate it or not. Would be nice if PBA could have the lost years reinstated for us current hires.

What happened to the bill that was going through to reduce the amount paid to the investment plan to 2% instead of 3% ? Haven't heard anything else on this for those in the investment plan it would be another 1% boost . Thanks !

All pension legislation is dead on arrival for the 2013 session. That includes any tinkering with the percentages for the investment troopers. I don't understand why they felt they needed to "entice" people to sign on with the investment option or why they felt then needed to close the FRS to new hires? They have totally shut down the retirement COLA. If you are a new hire, why would you even consider sticking with the FRS if there is no COLA? You'll retire with 25 on and you'll get 75% of your best 5 and that's the exact same pension check you'll get every year till the day you die. It most likely won't amount to anything the day you leave. By the time you are 80 years old, it probably won't be enough to buy a pizza. By taking the investment option, a new hire will at least have some chance of getting ahead. It may not end up being 3%, but it most likely will be better than nothing at all, which is what the FRS is going to give them. In 2016, I think the legislature is suppose to revisit the COLA. We'll see if they decide to reinstate it or not. Would be nice if PBA could have the lost years reinstated for us current hires.

The Governor screwed us by dropping the investment plan state contribution from 18 percent to 13 percent.

[Matt Puckett]

The budget will be wrapped up over the next two days. The Governor has 14 days to act on it.

The FRS legislation stalled. The House bill didn't pass the Senate (18 yeas and 22 nays) and the Senate bill will not pass the House.

We are already discussing with the current Legislators the need to reinstate the COLA when it is available to be instated.

The budget has an additional $2 million in it for incidental and court overtime. This money should help alleviate a lot of the offsetting in the next fiscal year.

The state also sided with our position on special compensatory leave which is the current operating procedure for the FHP. This special comp proposal also applies to the State law enforcement officers and FDLE bargaining units.

[Matt Puckett]

What happened to the bill that was going through to reduce the amount paid to the investment plan to 2% instead of 3% ? Haven't heard anything else on this for those in the investment plan it would be another 1% boost . Thanks !

All pension legislation is dead on arrival for the 2013 session. That includes any tinkering with the percentages for the investment troopers. I don't understand why they felt they needed to "entice" people to sign on with the investment option or why they felt then needed to close the FRS to new hires? They have totally shut down the retirement COLA. If you are a new hire, why would you even consider sticking with the FRS if there is no COLA? You'll retire with 25 on and you'll get 75% of your best 5 and that's the exact same pension check you'll get every year till the day you die. It most likely won't amount to anything the day you leave. By the time you are 80 years old, it probably won't be enough to buy a pizza. By taking the investment option, a new hire will at least have some chance of getting ahead. It may not end up being 3%, but it most likely will be better than nothing at all, which is what the FRS is going to give them. In 2016, I think the legislature is suppose to revisit the COLA. We'll see if they decide to reinstate it or not. Would be nice if PBA could have the lost years reinstated for us current hires.

The Governor screwed us by dropping the investment plan state contribution from 18 percent to 13 percent.

The governor had nothing to do with the reduction to investment plan contribution rate. That is acturuarially determined and set by the legislature. The rates for the pension and the investment are statutorily required to be uniform so when the costs to operate the pension fund decreases, the uniform rates decreases.