March 5, 2012
By: Joseph Mosca
Dear Senator Flores,
As a state employee in the Special Risk retirement category, I consider this legislation hostile to my family’s welfare. After years of loyal service in the line of fire protecting our citizens, a further reduction prior to the year when your Governor promised the next formal address to pensions only highlights the disconnect with the values and needs of your constituents. It is unfortunate that such legislation was worked under the radar in such a way that it adds to the image of the majority party continuing it’s attacks of working class Floridians. What we risk in a day is well worth the investment in one of the lowest paying retirement systems in this nation. I demand you vote against this incredibly bad bill.
Further attacks on hard working Floridians, including your Public Employees does not go unnoticed.
Homestead, FL 33033
SB 2006 Retirement: Retirement; Revising employer contributions for members of the Florida Retirement System who are employees of public community colleges or charter technical career centers sponsored by public community colleges on a certain date; revising the required employer retirement contribution rates for members of each membership class and subclass of the Florida Retirement System; revising allocations from the Florida Retirement System Contributions Clearing Trust Fund to investment plan member accounts on a certain date, etc.
Changes proposed will reduce the percentages contributed by the State/Employer to FRS members. As listed below the reductions are significant and will amount to major economic loss to retirement wages.
Proposed Changes by Line Number:
352 (5)Effective July 1, 2012, allocations from the Florida
353 Retirement System Contributions Clearing Trust Fund to
354 investment plan member accounts are as follows:
356 Membership Class Percentage of Gross Compensation
358 Regular Class 6.30%
359 Special Risk Class 14.00%
360 Special Risk Administrative Support Class 7.95%
361 Elected Officers’ Class—Legislators, Governor,Lt. Governor, Cabinet Officers,State Attorneys, Public Defenders 9.38%
362 Elected Officers’ Class—Justices, Judges 13.23%
363 Elected Officers’ Class—County Elected Officers 11.34%
364 Senior Management Service Class 7.67%
HERE IS WHAT IT CURRENTLY IS:
343 Membership Class Percentage of Gross Compensation
345 Regular Class 9.00%
346 Special Risk Class 20.00%
347 Special Risk Administrative Support Class 11.35%
348 Elected Officers’ Class—Legislators, Governor,Lt. Governor, Cabinet Officers,State Attorneys, Public Defenders 13.40%
349 Elected Officers’ Class—Justices, Judges 18.90%
350 Elected Officers’ Class—County Elected Officers 16.20%
351 Senior Management Service Class 10.95%
Complete Bill Text: http://www.flsenate.gov/Session/Bill/2012/2006/BillText/Filed/HTML
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