Florida Retirement System Compared to Other Southeastern US Retirement Systems

In response to Governor Scott's intention to make the Florida Retirement System contributory, I made this video to show why the contributory status of a state's retirement system isn't the only factor to consider when evaluating that system. Governor Scott is being deceptive when he implies that if he makes the Florida Retirement System contributory, he is bringing the FRS in line with other state retirement systems. In fact, as this video show, the FRS is one of the worst (in terms of the amounts of benefits paid to retirees) in the Southeastern US.

Category:

Education

Tags:

• Florida Retirement System
• Governor Scott
• contribution
• education
• teacher
• employee

[cplcarlman]

@pbmasterpiece As bad as my video makes it look for Florida teachers, you are right, it's actually worse. Since Florida teachers rate 47th nationally in average salary, and retirement benefits are based in part on average salaries, retiring Florida teachers have even worse benefits when compared to other states. I might make another video, but I would have to look up a lot of information about current and past salary schedules for Florida and other states.

[cplcarlman]

I do not like being equated to a child fussing over a cookie when I complain that a benefit that I have always had is being taken away from me. If have been polite in responding to your arguments while at the same time you have been condescending. I have explained why being a Florida public employee and not contributing to FRS is financially worse for the employee than it would be if he were for example an employee of Georgia and contributing his 5%. I will no longer respond to your comments.

[cplcarlman]

I understand this money comes from taxpayers (of which I am one as well). Again the point and scope of this video is to show that FRS is not as good as other similar programs. That can't be disputed no matter your biases. As far as there being plenty of people to "do the job for less." I thought you stated that you had a pretty bad school experience yourself. I'm sure replacing quality experienced teachers with low cost replacements won't make the school experience good for anyone.

[cplcarlman]

In other states where the employees contribute, the various government entities also contribute. You still are ignoring the fact that we get less money in retirement (even if you count employee contributions) than other state employees do. You did hear that right? Less money than other states even as the system is now compared to other state systems. Gov. Scott wants us to contribute which would result in us having a bigger net deficit (contributions vs. benefits) than other states.

[cplcarlman]

As far as some of your other proposals, how many bilingual people qualified to teach are just sitting around waiting to be hired. In my county alone, we have over 6,000 teachers (we have over 90,000 students we serve). At the secondary level, students of multiple languages have to learn varied subjects. They won't be able to have one bilingual teacher to fulfill their needs. They would need bilingual teachers in each subject area (math, science). This would cost more than the status quo.

[cplcarlman]

You do realize that teachers are just like ordinary citizens. How would a teacher budget their personal finances if year-to-year their pay went up and down depending on how a particular group of students performed on one test throughout a 180-day school year? As far as the retirement benefit fund, that's what happens when all the different agencies pay into the fund. BTW, he hasn't stated that the savings would be funneled back into the classroom. They would be used for state budget items.

[quick1kungfu]

FRS bank losses are enormous! I wonder why Rep Workman does not seek reimbursement for faulty investment offerings like other states have been doing?

p. 28 Bank of America -316,327,012.67

p. 28 Bank of New York Mellon -2,434,291.60

p. 29 Barclays -19,997,665.40

p. 30 BB&T -6,569,393.34

p. 35 BNP Paribas -9,066,142.18

p. 54 Citigroup -279,818,109.26

See full list of bank losses here:

tawebster (dot) wordpress (dot) com/2011/04/27/florida-retirem­ent-system-frs/

[macmen007]

Let's take the elected official retirement pay FIRST!

Look t what the retire court system people get...let's work on them FIRST!

[olegnalocj]

Excellent vid that explains the FRS very well.

[pbmasterpiece]

Thank you for taking the time to educate all of us on the FRS as compared to other states. I wish you would also add a video on the comparisons between states on teacher pay initially when first teaching as well as what happens salary wise over subsequent years.Additionally all those complaining about teacher salaries might be well served to learn how the profession stacks up against other professions requiring comparable degrees.

[philgorp]

i understand the point you were making exactly. but bitching about making some small sacrifice in your life. when more floridians than there are public servants have completely lost their jobs and the rest of us are really having to struggle to make ends meet.,, well then honestly you just sound childish and self centered. and seriously myself and most any other taxpayer could care less what other states are paying. you knew what you were getting when you signed on.

phil

[philgorp]

this taxpayer pays for his own retirement . your video makes your point well enough. my sister inlaw solves that kind of problem with a scale. she just bit a little off till the cookie halfs were equal. replacements aren't always low quality. these were useless teachers they couldn't fire. did you read it completely? it was more an indictment of the school systems use of the Affirmative Action busing policy. my uncle was stuck with a few of these teachers after the school became an elementary.