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Court upholds changes to Florida's public pensions

Florida's Supreme Court has approved moves to force state employees to contribute cash to their own retirement plans.

By Andy Stonehouse | Updated on January 21, 2013

After a long period as just one of three U.S. states which didn’t require its public employees to contribute to their own pensions, the state Supreme Court has backed a major overhaul of its $120 billion state retirement system.

Late last week, the court ruled that Florida’s sweeping changes – which call for workers to contribute 3 percent of their income to the system, as well as getting rid of cost-of-living increases for any future retirees – did not in fact violate workers’ constitutional rights, Bloomberg reports.

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