The Florida Supreme Court ruled 2011 amendments to the Florida Retirement System constitutional, which means Sarasota County and the Sarasota County Sheriff’s Office won't have to pay roughly $6.5 million total compensation to employees.
State and local government employees challenged the 2011 amendments that required Florida Retirement System members to contribute 3% of their salaries to compensate for the state’s investment in the Florida Retirement System. If ruled unconstitutional, state lawmakers would have had a pay a $2 billion bill to reimburse employees.
“For us, from a budget standpoint, it’s the status quo,” said Sarasota County Director of Finance Steve Botelho.
Prior to the 2011 amendments, the Florida Retirement System was entirely funded by public employer contributions, and retired members received cost-of-living adjustment equal to 3% of the total monthly benefit, calculated annually.
To read the ruling, click here.
Currently 0 Responses
2 French apÃ©ro evening
5:00 pm - 7:00 pm
2 Florida's Children First 2014 Sarasota Reception
5:30 pm - 7:30 pm
2 'Safe Sex Halloween Bash: Midnight on the Bayou' Pre-Party Kiki
7:00 pm - 11:00 pm
3 Sarasota Memorial HealthSquare Event
2:00 pm - 3:30 pm
Observer adds new staff writers
Jessica Salmond, staff writer, is a Missouri native and graduated in May from the University of Missouri. Amanda Morales, staff writer, is a native Floridian who has lived on both coasts.
Arts festival raises awareness
The 20th annual downtown Sarasota Art and Craft Fair takes place Oct. 4 and 5, at Five Points Park and Central Avenue.
Bridging the gap
The Children’s Guardian Fund wants to help teens get hired.