Legislative Update: Serious Cuts to ORP Benefits

We regret to report that on April 27, 2012, Governor Scott signed HB5005 cutting state contributions to ORP retirement plans by 2.28 percentage points, roughly a 30% cut, a cut that will cost most ORP participants tens and possibly hundreds of thousands of dollars in retirement benefits.

And there is more bad news, unfortunately. The attorneys at the Meyer & Brooks law firm that successfully challenged last year’s mandatory employee retirement contribution (i.e., our 3 percent pay cut that took effect last summer), a challenge now before the Florida Supreme Court, do not perceive the possibility of similar success in a challenge to this latest cut (HB5005).

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