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Fla. House Poised To Okay Changes To State Pension

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Legislative Session Coverage

TALLAHASSEE (CBSMiami/AP) —  The Florida House Thursday discussed a bill which would stop elected officials  and top employees in state government from enrolling in the state’s traditional pension plan.

The House spent nearly two hours on Thursday discussing the legislation, which 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 measure would not take effect until July 2015.

The House could take a final vote on the bill (HB 7181) this week. A similar proposal is moving in the Florida Senate, but it’s unclear if the measure will pass.

House Speaker Will Weatherford has made changes to Florida’s pension system a top priority but has had trouble winning support from senators.

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 This material may not be published, broadcast, rewritten, or redistributed.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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