State Sen. Jack Latvala said Thursday that heâ€™s opposed to making state workers' retirement program into a defined contribution plan. File photo by Bill Cotterell.
A bill to move new state workers into a 401(k)-like defined contribution pension plan passed through its first House committee Wednesday, but a key senator is directly opposed to the plan.
The committee bill (PCB GVOPS 13-01) closes the defined benefit Florida Retirement System as of July 1, and requires new pension enrollees to join the investment plan as of July 1, 2014. It also prohibits new hires from applying for disability benefits.
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