Thursday, February 24, 2011

Some state lawmakers backing away from conversion to Defined Contribution Plans

Florida legislators are not embracing the sweeping employee pension reforms being advanced by Gov. Rick Scott.

At a House hearing Wednesday, members grilled a Scott staffer on the financial impact of requiring all new employees to enroll in 401(k)-type investment plans.

"I think we have a budget issue and not a pension issue here in the state of Florida," said Rep. Alan Williams, D-Tallahassee. "Hopefully through this process we can educate our governor in that regard."

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