Senator Gary Siplin, (D-Orlando), stepped out from the crowd on Thursday as he was the sole member of the Senate’s Governmental Oversight and Accountability Committee to vote against a bill aimed at reforming the Florida Retirement System.
A heavily amended Senate Bill 1130 went before the Senate committee on Thursday. Under the revised bill, which is sponsored by State Senator Jeremy Ring, D-Margate, state employees will not have to contribute anything if they earn $40,000 or less per year; workers that make between $40,000 and $75,000 would be required to contribute at least 2 percent; and workers making more than $75,000 would have to contribute at least 4 percent. In addition, the amended bill would give new employees the option to stay in a defined benefit plan if they earn less than $75,000 per year.
The bill as originally filed, would have closed the existing FRS defined benefit plan to new employees, and all state employees would have been required to contribute an unspecified amount to a 401K-style defined contribution plan.
Despite these compromises, Sen. Siplin feels that any reforms to the current retirement system are sacrilegious.
“Most state workers haven’t had a raise or cost of living adjustment in four or five years,” said Siplin. “I think it’s disrespectful to now ask them to give back their hard-earned dollars to the State for benefits they were already promised.”
The bill will be heard next in the Senate Budget Committee where even more changes are expected.
Sen. Siplin says he will keep monitoring the bill’s progress to ensure that state workers are held harmless.
