- Associated Press - Tuesday, February 16, 2016

TALLAHASSEE, Fla. (AP) - Public employees could get steered away from Florida’s pension plan under a bill now moving in the Florida House.

The House Appropriations Committee on Tuesday voted for a measure that would automatically place newly hired public employees in an investment 401(k) plan if the employees failed to make a choice within eight months of starting their jobs.

The legislation would apply to all new employees hired in July 2017 or after. The bill (HB 7107) is heading next to the full House.

For several years, House Republicans have tried to make changes to the Florida Retirement System, but the legislation has floundered in the Senate.

The House measure would also make changes to benefits paid to family members of someone who is killed in the line of duty.

LOAD COMMENTS ()

 

Click to Read More

Click to Hide