Now I've seen it all!

[beachmouse]

The teachers (and other FRS covered employees) are now suing the state. Seems that none of the 'pension reform' money is dedicated to propping up FRS and since it's going into the general fund instead, they feel it's an income tax on their wages:

http://www.tampabay.com/news/politi...ver-pension-overhaul-employee-pay-cut/1176332

Granted as an FRS participant, I've got skin in the game, but I think they've got a very good point there. If you're going to claim to the public that said action is for preserving my retirement plan, then said money should actually be going toward that goal.

 

[Bob Wells]

The teachers (and other FRS covered employees) are now suing the state. Seems that none of the 'pension reform' money is dedicated to propping up FRS and since it's going into the general fund instead, they feel it's an income tax on their wages:

http://www.tampabay.com/news/politi...ver-pension-overhaul-employee-pay-cut/1176332

Granted as an FRS participant, I've got skin in the game, but I think they've got a very good point there. If you're going to claim to the public that said action is for preserving my retirement plan, then said money should actually be going toward that goal.

Which when we were in Tally talking to the local legislators only 1 said that it was going into the general fund.

 

[Andy A]

There is no doubt it should not go into the general fund. It is not only a mistake on Scott's part but the legissature as well.

 

[idlewind]

The "contribution" is nothing more than a backdoor income tax on government employees. We should all be concerned because once the government has their fot in the door they never stop.

 

[Andy A]

If the 3% isn't going toward employee retirement, then you're right, IW, its nothing but a tax and should be repealed or changed for its intended purpose. I, and my wife, paid into our state retirement fund and thought nothing about it.

 

[Here4Good]

It's a little tricky- according to the St Pete Times, the 3% IS going to the Florida Retirement system, but it just replaces money that the state used to pay. So, it's sort of a movement of funds (money being extremely fungible, after all). The 3% is being used to free up $1B for the state to use elsewhere.

 

[idlewind]

It's a little tricky- according to the St Pete Times, the 3% IS going to the Florida Retirement system, but it just replaces money that the state used to pay. So, it's sort of a movement of funds (money being extremely fungible, after all). The 3% is being used to free up $1B for the state to use elsewhere.

That is the way politicians trick us. The reason the employees had to start "contributing" was the system was in trouble. Only I understand that the system is 100% funded before the "contributions." So they cut 3% off the state payment, stick it back in the general fund to use elsewhere and claim they have "saved" the retirement system. Nothing but lies, lies and more lies.

 

[Here4Good]

Right, so the FRS basically gets the same amount of money - if it was in trouble, I am not sure how this "saves" it.

It does save the lawmakers from having to raise taxes elsewhere, and allows them to put in those corporate tax cuts they are all wild about.

 

[idlewind]

Right, so the FRS basically gets the same amount of money - if it was in trouble, I am not sure how this "saves" it.

It does save the lawmakers from having to raise taxes elsewhere, and allows them to put in those corporate tax cuts they are all wild about.

What I don't understand is some of my fellow conservatives crowing about what is basically a tax increase on a segment of the population. Everyone loves taxes as long as they are on someone else. I just hate taxes period.