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Florida TaxWatch Report Recommends FRS System Changes

February 14, 2013 Government No Comments

Florida TaxWatch Report Recommends FRS System Changes

TALLAHASSEE – Florida TaxWatch today released a report expanding on previous recommendations to switch the Florida Retirement System (FRS) to a Defined Contribution model.

The Report, Modernizing the FRS: Switching to a Defined Contribution Plan, explains that this reform will improve equity between the private and public sector, provide predictable budgeting for the Legislature, reduce unpredictable future liabilities for Florida taxpayers, and allow current FRS members to maintain their earned benefits and stay in the plan of their choice.

“It is long past time for the Legislature to modernize the FRS,” said Dominic M. Calabro, President & CEO of Florida TaxWatch, the statewide, independent, nonpartisan, nonprofit taxpayer research institute and government watchdog. “The Florida TaxWatch Government Cost Savings Task Force has recommended changing to a defined contribution system for several years now, and this Report lays out several different reasons why this change is appropriate for Florida.”

The Report shows the development and growth of the FRS from 1970 through today, compares defined benefit to defined contribution systems, and looks at the benefits for all Floridians in switching to a defined contribution system.

The Report can be found here.

CONTACT:
Chris Barry
Communications Coordinator
cbarry@floridataxwatch.org
850.222.5052

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2013 Florida Capitol Press Corps Guide

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Sachs Media Group this week released its annual Capitol Press Corps Guide, the resource to find and connect with reporters who cover Florida from the capital city. The pocket-sized 2013 guide is a listing of all major news outlets in Florida that have capital bureaus, including contact information for individual reporters who cover issues of statewide importance. The 2013 guide includes reporters’ Twitter handles, recognizing the growing importance of social media in reporting. Supplies are limited. To request a hard copy, email herbie@sachsmedia.com.

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