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A Call To Change Municipal Pension Plans

TALLAHASSEE (by Rick Flagg and Alan McBride/FLA. NEWS NETWORK) -- TaxWatch, business groups and the Florida League of Cities are teaming up to try to change the municipal pension system and undo a sweetheart deal that began 15 years ago.
When he ran for governor in 1998, Jeb Bush cut a deal with the police union to get their endorsement.
The next year he signed a new law boosting pensions for cops and firefighters.
Now, Robert Weissert with Florida TaxWatch says that deal is breaking the bank.
"We cannot fund these promises in the future," he said. "These are not sustainable promises without reducing services that people depend on at their local level, or without raising taxes."
There are almost 500 municipal pension plans in the state and TaxWatch says they're $10 billion in debt because retirement benefits are too high.
TaxWatch is teaming up with the League of Cities, Americans for Prosperity and several business groups to lobby the legislature for pension reform.
They want to reduce some of the benefits paid to police and firefighters.

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Topics : Business_FinanceLaborSocial Issues
Social :
Locations : Florida
People : Alan McBrideRick FlaggRobert Weissert