Florida Retirement System Reform Bill Passes House Committee

New state employees would be locked out of the Florida Retirement System under a bill moving through the State House.

Friday, The House Appropriations Committee passed the bill, which is expected to save taxpayer 10 billion dollars by 2040. The decision was made over the objections of current and former state employees.

“This proposal was based on millions of assumptions. If it ain’t broke don’t fix it. I’m rising in opposition,” said Amy Mets.

After the vote, we caught up with Senate President Don Gaetz who says paying pension is deflating the state budget.

“We are taking 500 million dollars out of general revenue this year to put in to the FRS. That’s money we can’t spend on health care, we can’t spend on education, the environment,” said Gaetz.

Democrats say Florida’s Retirement System is one of the healthiest in the country and there is no need to reform it. If the bill becomes law, state employees hired after January, 2014, would not be eligible for the state retirement system.