When government employees sign up for their pension plan, they can choose to enroll in the Florida Retirement System which has a defined benefit plan.
Unfortunately, without substantial reforms, that plan won’t keep up with the promised payout employees are guaranteed.
What this means is that Florida is stuck between a rock and a hard place: either don’t give the government workers what they’re legally owed or put the taxpayer on the hook for billions of dollars of unfunded liabilities.
SB 84 is a step toward reforming the government pension system, giving clarity and security that employees desire. SB 84 also ensures that taxpayers are no longer left bearing the responsibility of the state government’s inability to keep their promises.
Urge your lawmaker to support SB 84 and bring commonsense reform to the Florida Retirement System!