BSO Reminder
If you received holiday
accrual credit, you must
use that time by
September 30, 2010
or you will lose it.
SB 1902; HB 1319; SB 2022; HB 5701 - FRS/Govt'l retirement systems
Two additional bills have surfaced related to FRS and retirement contributions and benefits. The Senate is now considering SB 2022 related to FRS in addition to SB 1902 (see email below). SB 2022 requires all FRS employees to contribute ¼ of 1 percent of gross salary to fund retirement benefits starting January 1, 2011. SB 2022 was recommended favorably by the Senate Ways & Means Committee today. A link to SB 2022 and the staff analysis are included below.
On the House side, the House has introduced HB 5701, which eliminates the retiree health insurance subsidy which equals $5 per month for every year of service up to a maximum of $150 a month.
Read more
About Your Health Insurance
Now last week, the Florida PBA sent out a Red Alert to inform all of you about potential changes to your retirement benefits (see article And There’s More on the Pensions too). We have received a solid response from the membership and judging by the comments from some of the Legislators on the list, you are making the phone calls. Please keep those phone calls and emails going (see the last page for details).
Sadly, changes to your pensions are not the only major reform issues related to your benefits being discussed. Health Insurance is probably at the top of the list. Last week, we wrote in the Capitol Report about the four bills concerning major changes to your health insurance, but we did not make a key connection for you – the changes in HB 1025 and SB 1710 for retiree premiums are designed to apply to retirees from every level of government not just state retirees. If you are retired from a city, or a county, these changes could impact your premiums, too.
This legislation will increase the premium costs for retirees and those close to retirement at every level of government.