Pressroom
FSP Updates
Statement Regarding Gov. Rick Scott Signing SB 2100 and SB 1128
“Today marks a turning point in Florida’s financial state as our leadership has come to the realization that government sector pension promises can no longer remain at the same level as in past years. Our state is struggling and everyone has to give a little in hopes we can soon see the positive outcomes of [...]
Read More »
Biggest Pension Issue Left Unaddressed as Lawmakers Prepare to Sine Die
“With national attention surrounding pension reform, the 2011 Legislative Session brought hope of improvement surrounding Florida’s government pension issues. Early pension reform proposals contained measures that would create a more reliable system for government employees and reduce the burden on Florida’s current and future taxpayers. Unfortunately, pressure from powerful, government-employee unions diluted these bills. It [...]
Read More »
Five Reasons to Act Now on 401(k) Style Pensions
1. The IRS prohibits new employees from bailing out the old. Contrary to popular belief, the cost of converting to 401(k) style pensions for new government employees is negligible. That’s what a Milliman study for the Division of Management Services found. And it’s largely because an IRS rule forbids state governments from using retirement contributions [...]
Read More »
Orlando Sentinel: Preserve kids’ future – reform pensions
Recently, the Florida Legislature celebrated Children’s Day at the Capitol. Legislators spent the day kissing babies, posing for photos with kids and giving speeches about how much they care about children. Then, many lawmakers spilled their milk. Bowing to pressure from powerful government-employee unions, the Florida House and Senate largely abandoned the simplest and most [...]
Read More »
Ten Questions about Pension Reform
1. Aren’t new employees needed to keep the state’s defined-benefit plan stable? No. The Florida Retirement System (FRS) defined-benefit plan is not a Ponzi scheme like Social Security. It is instead a “pre-pay” system. Money is set aside in advance, and invested, to cover the old-age benefits promised to future retirees. The problem, of course, [...]
Read More »
Governor Scott Joins Group of Pension Reform Advocates in Announcement of Newly Formed Coalition, Floridians for Sustainable Pensions
FOR IMMEDIATE RELEASE CONTACT: Valerie Wickboldt April 12, 2011 (850) 222-3767 valerie@coremessage.com ~ Group urges lawmakers to make significant changes to the government pension system ~ TALLAHASSEE, Fla. – Gov. Rick Scott spoke today at a press conference announcing the newly formed coalition, Floridians for Sustainable Pensions (FSP), comprised of a diverse group of citizens, [...]
Read More »