2012 Legislature Sets Sights on More FRS Pension Reductions

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FPF

January 8, 2011

Received from FPF:

FLORIDA PROFESSIONAL FIREFIGHTERS

Any thought that an election year would temper the Republican majorities in the Florida House and Senate from balancing the state budget deficit on the backs of public employees can be dismissed.

Last year, public employees were imposed with an income tax of 3% of their earnings, including overtime and all other pay. This was coupled with benefit reductions, an added 5 years of work to reach retirement age, and elimination of the retirees COLA. Not one penny of the 3% income tax was directed to the pension plans unfunded liability. The employees’ pension contribution was diverted to the state budget deficit and refunded back to Local governments to spend as they chose.

Now House Speaker Dean Cannon (R-Winter Garden) and Senate President Mike Haridopolos (R-
Melbourne) have tapped into the FRS Retirement Trust Fund to the tune of more than $260,000.00 for
studies to further reduce Special Risk (Fire and Police) and General employees (Teachers, state workers,
and all other members of FRS) pensions. Not only do we have to pay a new income tax, but now we
have to pay for studies to reduce our pensions even further.

Here’s a rundown of the studies underway by the Republican leadership for the 2012 legislative session;
expect to see some or all of these in this year’s legislative session.

1. Return retirement age from 60 to 55 and 30 to 25 years of service regardless of age for Special
Risk members.

2. Increase the years to vest from the current 8 years to 9, 10, or 11 years, including vesting for a
disability retirement for new members.

3. Elimination of all overtime and leave accrual payouts from pension calculations for both current
employees and new hires.

4. Reduce by 10% the contribution rates to employees’ accounts in the investment plan.

6. Eliminate all service classes in FRS other than Special Risk and Regular class. All classes other
than Special Risk will be placed in the Regular Class.

7. Reduce the accrual rates for Special Risk members and Regular Class members by 10%.

8. Eliminate the Special Risk Class and put all members in the Regular Class at a 1.6% accrual rate
for all current and future members effective July 1, 2012.

9. Increase the employee income tax on pensions from a 3% contribution to a 4% contribution
effective July 1, 2012.

10. Revise the employer contribution rates for FRS members depending on employer. County
agencies, metropolitan planning organizations, and charter schools would pay a different rate
than State agencies, boards, universities, community colleges, and district school boards.

The FPF will have at least 6 full time lobbyists working on your behalf every day during the legislative
session. We have overhauled our website, and established a Facebook page and Twitter account to keep
you up to date, minute by minute.

Please familiarize yourself with your legislator and their voting record. 2012 is an election year and the
1.5 million pension members and beneficiaries who were unfairly taxed and had their pensions reduced
can make a difference in November! We will make sure that you know how Your legislator voted both
last year and this year on pension issues so you can make an informed decision at the polling place.

Fraternally,

Gary Rainey, President/CEO
Florida Professional Firefighters
raineyg@gmail.com, 850-224-7333

345 West Madison Street Tallahassee, Florida 32301-1625
Phone: (850) 224-7333 — Fax: (850) 222-1751 —  E-mail: fpf@fpfp.org — Website: http://www.fpfp.org

Affiliated with: INTERNATIONAL ASSOCIATION OF FIRE FIGHTERS

 

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3 thoughts on “2012 Legislature Sets Sights on More FRS Pension Reductions

    • Tom:

      We continue to reach out to all in an effort to serve all public employees.

      Admin
      Florida Public Employees

  1. I wonder how many public employees voted these GOP corporate shills into office? Are they now surprised at what is happening? I’d love to hear from someone like that and learn what they think now and what they are doing about it. Just curious.

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