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Fla. Pension Bill Advances In Legislature

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Florida Legislature (Source: David Sutta/CBS4)

Florida Legislature (Source: David Sutta/CBS4)

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Legislative Session Coverage

TALLAHASSEE (CBSMiami/AP) — A bill advancing in the Florida Legislature would no longer allow state government elected officials and top employees to be eligible for the state’s traditional pension plan.

The House State Affairs Committee voted for the bill on Friday.

The legislation also would automatically place newly hired public employees in an investment 401(k) plan if the employee failed to make a choice within eight months of starting their job.

The bill is a last-ditch effort to pass some type of pension changes this year.

House Speaker Will Weatherford last year wanted to close off the traditional pension plan to new hires but the proposal was opposed by a majority of state senators.

But it’s unclear if this scaled-back proposal will pass. Public employee unions and Democrats remain opposed.

TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.

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