Fl. House Votes to Change State Pension Plan
Florida could try to steer public employees away from the state's traditional pension plan under a bill passed by the Florida House.
The House voted 74-44 on Friday for a measure that would stop elected officials and top employees in state government from enrolling in the state's traditional pension plan.
The legislation would also automatically place newly hired public employees in an investment 401(k) plan if the employees failed to make a choice within eight months of starting their jobs.
The measure would not take effect until July 2015.
A similar proposal is moving in the Florida Senate, but it's unclear if the measure will pass.
House Speaker Will Weatherford has made changes to Florida's pension system a top priority but has had trouble winning support from senators.