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Florida Pension Reform Plan Put on Hold
Miami Herald Feb. 18, 2013
"A report ... by Milliman ... concluded that closing the state's pension system to future employees would endanger the benefits of those currently enrolled in the pension plan. The problem: Because [the] proposal would turn away new workers, the pension plan would be forced to rely on a shrinking payroll base on which contributions to retirees are made. To make up the shortfall, either workers or taxpayers would chip in more, the report stated.... But what the report didn't include were costs associated with keeping the pension plan intact, making it difficult to compare costs between reform and status quo."
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