Florida Gov. Rick Scott proposes dropping DROP, curtailing retirement benefits
In preparation for the release of his budget recommendation, Florida Gov. Rick Scott has set forth some proposals that would affect the state's school teachers along with other state employees.
Scott has called for an end to new participation in the state's Deferred Retirement Option Program, beginning July 1. He wants to reduce the annual service credit toward the state retirement system, eliminate cost of living adjustments for retirees in the system and require employees to contribute toward their pension plan for the first time.
Union leaders are criticizing the proposal as colossally bad. See more from The Buzz.