Florida TaxWatch Statement on Today’s Supreme Court Hearing Regarding Pension Contributions (Scott v. Williams, SC12-520)

Florida TaxWatch Statement on Today’s Supreme Court Hearing Regarding Pension Contributions (Scott v. Williams, SC12-520)

TALLAHASSEE-A Statement from Dominic M. Calabro: “Florida TaxWatch was honored to be granted Amicus Curiae status in this important case for Floridians. Preventing the Legislature from making prospective changes to the Florida Retirement System would negatively affect Florida taxpayers. The Legislature has passed two budgets that rely on the revenue generated from this change, and voiding the change would create a significant budget shortfall. The state’s bond rating would likely be negatively affected as well. Overall, the most important issue in this case is the need for legislative flexibility, which would be severely constrained if the Legislature were unable to make prospective changes to such a large public program.”

Note: As stated in the Florida TaxWatch Amicus brief (filed with the Supreme Court of Florida on June 20, 2012), “…most states require a larger contribution than 3 percent, some require well over 10 percent from some employees, and many have increased employee contribute rates in the last two years; thus, Florida’s 3 percent employee contribution is relatively low. Likewise, many states have made other reforms to reduce the cost of state-run pension systems, including changes to the COLA.”

Link to full Amicus: Florida Supreme Court

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CONTACT: Chris Barry, Communications Coordinator, 850.222.5052

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