Steep retirement mandates weigh heavily on city, county budgets

Posted on July 3, 2013

Of all the bills passed this spring by the Florida Legislature, the one expected to have the biggest financial impact on local governments in Taylor County is SB 1810, which is projected to cost the county, city and school board an estimated $890,000 this coming fiscal year.

The bill increases the rates employers, including local governments, must contribute to the Florida Retirement System (FRS) pension program for their employees which participate in the program. In some cases, the increases are three-fold the previous contribution rates.

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