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New speaker will push for state pension changes

New House Speaker Will Weatherford said Tuesday all newly hired state employees should join the state retirement system's investment plan, calling the traditional defined-benefit plan "a ticking time bomb." Photo by Bill Cotterell.

Incoming House Speaker Will Weatherford said Tuesday that rapidly mounting public pension obligations are "a ticking time bomb" for Florida government, so he will ask the  2013 Legislature to make all new state employees join market-driven investment plans rather than the traditional monthly retirement systems.

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