Lawmakers want to tighten state’s retirement fund
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APNewsNow
Published: July 21, 2008
TALLAHASSEE, Fla. (AP) - It’s an offer many private sector workers wish they could get — briefly retire and take thousands in a lump sum payment. Then go back to work at your old job and collect both a full salary and a pension.
Roughly 100,000 Florida state employees, teachers and other education employees have done just that. They’re taking advantage of a 10-year-old program originally designed to keep talented and experienced people in hard-to-fill jobs like police or firefighters.
But now some Florida lawmakers want to tighten the Deferred Retirement Option Program, saying decisions on who can or cannot participate have become too political. Gov. Charlie Crist also has criticized DROP, arguing it has too many loopholes that make it an easy target for abuse.
Copyright 2008 The Associated Press.
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