FRS Update

[Matt Puckett]

Ash Williams, executive director of the State Board of Administration addressed the cabinet yesterday and stated that the FRS pension had reached $137 billion, an 11 percent increase from last year.

Good new

That's great news. I hope someone is working on removing that 3% employee contribution. Can you please stop the bleeding because most departments haven't received a raise in 5+ years. Thank you for your hard work.

Information was brought up in our roll call that the FRS is and has been funded to the point for the 3% contributions to stop. Now that it is well funded and getting great returns on the money, when will these contributions stop??? Thanks..

[Matt Puckett]

Information was brought up in our roll call that the FRS is and has been funded to the point for the 3% contributions to stop. Now that it is well funded and getting great returns on the money, when will these contributions stop??? Thanks..

It will take legislative action to stop the employee contributions. The appropriations conference committee will ultimately set the contribution rates.

All these state employees as well as teachers are getting raises to cover that 3% contribution. Why don't we just get that contribution stopped instead of making it look like almost everyone is getting raises? Those of us working as deputies in broward county under the PBA are not getting these same raises so we need these contributions to cease. Many are not happy with the PBA lately so getting this accomplished should be a top priority to change this. I strongly believe bso will change bargaining units to get away from the PBA if this is not accomplished soon.

Information was brought up in our roll call that the FRS is and has been funded to the point for the 3% contributions to stop. Now that it is well funded and getting great returns on the money, when will these contributions stop??? Thanks..

It will take legislative action to stop the employee contributions. The appropriations conference committee will ultimately set the contribution rates.

Hey Matt, any word on how this is coming along? I keep reading how the state has extra money and state employees along with teachers are getting raises. Stopping that 3% would definitely boost the PBA name right now.

[Unregistered]

Perhaps I have missed this, has any one got a commitment from Gov. Scott on whether or not he would support a 401k style retirement for future employees, or further employee contributions in a second term? The legislature has been floating this idea for a couple of years now. What is Gov. Scotts stance on this subject?