Teacher Pensions

The Florida Education Association says teacher retirement is in jeopardy.

The teacher’s union held a news conference ahead of a senate vote to close the pension system to new senior managers and elected officials.

The House version closes the system to all new hires.

FEA Vice President Joanne McCall says changing the state’s defined contribution plan would make it harder for teachers to retire.

“If you are entering this year and you teach for 30 years, your retirement will basically be about 1,900 dollars a month. If you go to the investment plan that decreases to almost 1,200 dollars a month,” said McCall.

McCall also says changing the plan would discourage people from teaching in Florida. House Speaker Will Weatherford called the claims scare tactics and says the changes are needed to modernize the state retirement system.