Florida house speaker Will Weatherford is conceding that his fight to move state employees out of a traditional Defined Benefit pension program is in "big trouble," according to reporting from tcpalm.com.
Pension reform has been a cornerstone of the Weatherford's term as House Speaker. Florida's legislative session will end this Friday. On Wednesday, a bill advanced by State Sen. Wilton Simpson, R-Trilby, lost a procedural vote by a margin of 21-15 that was necessary to move the bill to a wider up and down vote. The loss has effectively rendered pension reform dead, at least until Florida's next legislative session, which will follow elections in November.
Speaker Weatherford (the youngest officer of any state legislature) and Senator Simpson have led Florida's push for pension reform. Simpson was granted leadership over the issue by Florida's president of the Senate.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
