Fla. Senate Moderates Retirement Bill

By: Associated Press
By: Associated Press

TALLAHASSEE, Fla. (AP) - The Florida Senate has moderated a bill that would require public employees to contribute to the Florida Retirement System, now fully supported by taxpayers.

The chamber approved a tiered contribution system Wednesday instead of requiring all workers to contribute 3 percent of their wages regardless of pay level as in a similar House bills.

The Senate bill now calls for contributions of 2 percent for the first $25,000 of pay, 4 percent for the next 25 percent and 6 percent for anything more.

Both chambers are set to vote Thursday on budget bills including the retirement legislation.

The House is looking at a $66.5 billion appropriations bill. The Senate's version weighs in at $3.3 billion more than the House plan. That spread is due largely to accounting differences.

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