TALLAHASSEE, Fla. (AP) – Public employees could get steered away from Florida’s pension plan under a bill now moving in the Florida House.
The House Government Accountability Committee voted 14-8 Wednesday for a measure that would place newly hired public employees in an investment 401(k) styled-plan if they fail to make a choice within six months of starting their jobs. Currently those employees are placed in a traditional pension plan.
Democrats voted against the bill and complained Republicans didn’t set aside enough time to consider such a major change.
The legislation would apply to employees hired starting in 2018.
House Republicans have pushed for changes to the Florida Retirement System for several years. The Senate has refused to go along.
The House measure would also prohibit future elected officials from enrolling in the pension plan.WHAT OTHERS ARE CLICKING ON-
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