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Gaetz says pension changes may be in trouble

Senate President Don Gaetz, R-Niceville, discusses plans for the 2014 legislative session during an interview with The Florida Current in his office. Photo by Bill Cotterell.

An overhaul of the Florida Retirement System is in for a close vote in the 2014 legislative session, Senate President Don Gaetz said Thursday.

The Senate Community Affairs Committee voted 5-4 on Tuesday for a bill by its chairman, Sen. Wilton Simpson, R-Trilby, that would set up a “cash-balance” pension plan in the FRS for newly hired employees. One Republican, Sen. Jack Latvala of Clearwater, joined three Democrats on the committee who voted against the bill, saying members did not have financial data to demonstrate that changes would be beneficial for employees or their government employers.

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