Pension Lawsuit Update
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- Created on Tuesday, 24 July 2012 20:00
By now you have probably heard of the ruling in Tallahassee by a Circuit Judge on the controversial Florida Retirement System changes made by the legislature in 2011. The ruling which held that the law was an unconstitutional attempt by the legislature to force members to pay for a pension after being hired at a different term is being appealed by the Governor. This means the current 3% deduction many members have seen in their paychecks this past year will continue until the ruling is either upheld or struck down by the Florida Supreme Court. This hearing will occur in September, with an outcome likely by the end of 2012.
In the meantime, the 3% being deducted from your salary each pay period continues to be held by the state. If the ruling by the circuit judge is upheld on appeal, workers can expect backpay for the wages currently being deducted.
As always, your CFPBA/PEA will continue to play an active role in this process and monitor developments through to conclusion. Check this space in the months ahead for more details as they become available.
