Florida’s most influential business advocates and policy groups have formed Taxpayers for Sustainable Pensions, a coalition dedicated to municipal pension reform efforts across the state. The groups convened in Tallahassee to announce their commitment to reducing the growing pension liability for taxpayers in Florida cities. The coalition will pursue options for local pension reform, including legislative, constitutional and local-level solutions.
After lawmakers were unable to pass a municipal pension reform bill during the 2014 Legislative Session, the groups were inspired to create the coalition to focus attention on the massive local liabilities. Florida’s municipal pension plans have amassed more than $10 billion in debt due to excessive benefit levels, and one-third of all municipal pension plans are less than 70 percent funded.
To improve the health of local pension plans, the coalition will work with state and local officials, as well as key stakeholders to propose and implement solutions to ensure Florida taxpayers can afford benefits promised to local public workers.
Members of the coalition include:
Florida TaxWatch
Americans For Prosperity – Florida
Associated Industries of Florida
The National Federation of Independent Business
The Florida Chamber Foundation
The Florida League of Cities
R Street Institute
Bill Herrle, Florida Executive Director of the National Federation of Independent Business: “An unhealthy local pension system is potentially harmful to the long-term well-being of our state, and finding a solution has been challenging because there are so many stakeholders. Reforming the municipal pension system is critical to ensuring that Florida’s economy continues to grow and flourish, and protecting the taxpayers is key. We’re looking forward to bringing the voices of our members – small business owners and taxpayers – to the table to find a responsible and sustainable solution to this challenge.”
Leticia Adams, Director of Infrastructure and Governance Policy for the Florida Chamber of Commerce: “Creating fiscally stable state and local governments through modernized and sustainable retirement systems helps avoid a bankrupt future too many state and local governments currently face,” said Leticia Adams, Director of Infrastructure and Governance Policy for the Florida Chamber of Commerce. “Securing public pensions and protecting taxpayers will help avoid the damage that unfunded pension programs can have – broken promises, lost jobs, higher taxes and fees and a diminished economy.”
Tom Feeney, President and Chief Executive Officer of Associated Industries of Florida: “Florida’s long-term financial security and long-term economic growth of controlling pension obligations for local public workers is essential,” said AIF President & CEO Tom Feeney. “We are proud to be a part of the Taxpayers for Sustainable Pensions Coalition and look forward to working toward the common goal of improving the health of local pension plans.”
Scott Dudley, Legislative Director for the Florida League of Cities, Inc.: The Florida League of Cities and its 410 member cities are proud to stand with such a broad and diverse coalition of interests, all seeking to fix Florida’s municipal police and firefighter pension system. Florida’s cities respect and honor our first responders and want to ensure that the pensions they have been promised are there for them when they are ready to retire. The legislature has imposed mandates on cities that have made municipal police and firefighter pensions unsustainable in the long run. Unless and until the legislature repeals the existing mandates that have cost Florida’s taxpayers over $550 million since 1999, cities will continue to struggle to make good on their promise to these first responders.
Christian R. Camara, Florida Director for the R. Street Institute: “Many state and local governments around the country are grappling with the quickly rising costs of their pensions and retiree benefits. Some have had to sacrifice funding for key government services such as education, roads, and public safety just to remain solvent. Without some commonsense reforms, many of Florida’s local governments will be forced to make similar concessions in the near future, which will hurt residents and put Florida’s economy at risk.”
