Gambling With State Worker's Retirement?04/29/13 Robert Lorei
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Good afternoon, welcome to The Last Call. Iâ€™m Rob Lorei. Coming up today- A coalition of groups in Florida is taking aim at a plan in Tallahassee to shift more public employees into a 401(k)-like retirement plan. We heard a moment ago on the news that House Speaker Will Weatherford hopes that he can get a mandatory 401K plan for state workers passed this week in the last days of the legislative session.
Weâ€™re joined now by Alan Stonecipher who is director of the Florida Retirement Security Coalition.
Your study found:
â€œThe stateâ€™s defined contribution plan has lower investment returns than its defined benefit pension, according to a Keystone Research Center study released today with the Florida Retirement Security Coalition.â€