Proposed Bill Would Increase State Worker Pensions ... - The …

Jan 29, 2024 · Florida lawmakers in the state legislature are currently mulling over HB 151 – Cost-of-Living Adjustment (COLA) of Retirement Benefits – which would increase the pensions of …

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Florida House Committee Passes Bill To Increase State Pension …

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Mar 28, 2023 · The bill will restore the original 3% cost-of-living-adjustment, and this will not only be for retiring first responders, but also for teachers and other state employees. Florida House …

thecentersquare.com

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House COLA Push For State Workers Could Hit Dead End In Senate

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Feb 2, 2024 · A move to add back a 3% cost-of-living adjustment (COLA) for state workers’ pensions that the state took away in 2011 started to move in the House this week, but it could …

floridapolitics.com

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FLORIDA PBA LEGISLATIVE ALERT! – MAJOR RETIREMENT …

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The annual DROP interest rate will increase from 1.3% to 4% effective July 1, 2023. From the Budget: The Senate Budget includes a 3% state employee pay increase $26 million for LEO …

flpba.org

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House Advances Bill Boosting State Worker Pensions - Florida …

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Mar 28, 2023 · The House Appropriations Committee unanimously passed HB 239, which would restore the 3% cost of living adjustment for the 629,073 members of the Florida Retirement …

floridapolitics.com

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Florida Senate Bill Overhauls State Pensions

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Apr 22, 2021 · Florida’s pension plan, which pays set monthly benefits to retirees, is considered one of the best in the nation. The state’s fund could hypothetically fund pensions for 82% of …

floridapoliticalreview.com

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Florida Retirement System: Lawmakers Try To Cut Workers From …

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Feb 2, 2021 · Along mostly party lines, lawmakers require teachers, firefighters and state workers to contribute 3% of their pay to the pension fund. Requirement helps state close a $3.75 billion …

tallahassee.com

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Thousands Of Floridians Will See A Bump In Their Social Security

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5 days ago · The Biden Administration said 2.5 million Americans will receive a lump sum payment of a $1,000 to make up for the shortfall in benefits they should've had received last year.

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FAQs about Proposed Bill Would Increase State Worker Pensions ... - The … Coupon?

Does Florida have a 3% cost-of-living adjustment?

The Florida Supreme Court upheld the law in January 2013 following a lawsuit by the Florida Education Association alleging it violated the state constitution. Two Florida state senators introduced a bipartisan bill that would provide a 3% cost-of-living adjustment for all participants in the Florida Retirement System. ...

Could a state pension bill put the state's financials in jeopardy?

(The Center Square) – Critics say a bill that would increase retirement benefits for beneficiaries of the state’s defined-benefit pension system could put the system’s financials in future jeopardy. ...

What does HB 151 mean for retired public employees?

The bill and its companion (HB 151), by Rep. Demi Busatta Cabrera, R-Coral Gables, says that it is a "legitimate state purpose" to provide retired public employees with “fair and adequate benefits that are managed, administered and funded in an actuarially sound manner....” ...

Could a new retirement plan make Florida's retirement plan more attractive?

After a decades-long attempt to steer workers away from the traditional pension plan offered by the Florida Retirement System (FRS), one proposal has emerged to make it more attractive to workers, and another would allow a group of workers who had opted out of the plan to rejoin it. ...

Will House Bill 239 increase retirement benefits?

House Bill 239, which passed favorably through the House Appropriations Committee meeting on Tuesday, will increase retirement benefits for the 629,073 members of the Florida Retirement System and 151,913 current retirees. ...

Do teachers have to contribute 3% to state pension fund?

Along mostly party lines, lawmakers require teachers, firefighters and state workers to contribute 3% of their pay to the pension fund. Requirement helps state close a $3.75 billion budget shortfall by raising about $1 billion in workers’ contributions. 2012 ...