TALLAHASSEE, Fla. - A House panel has cleared a proposal to end traditional pensions for new teachers and state and county employees.
The idea is to shift retirement investment risk from the state to its employees. The bill also would end disability benefits for new workers.
Those now in the Florida Retirement System can select a traditional pension or a 401(k)-style plan. About three-quarters of those now in the state pension plan are teachers and local government workers such as law enforcement officers and firefighters.