State retiree loophole costs Florida $300M a year

[flvegan]

ALLAHASSEE -- A growing number of elected officials are quietly taking advantage of a loophole carved into the state retirement law a few years ago that allows double dipping -- collecting a state pension while still getting a regular paycheck from taxpayers.

The cost of pensions for "retirees" who have returned to the payroll was around $300-million last year, according to the Florida Retirement System.

Records indicate that 211 elected officials in Florida -- including legislators, judges, sheriffs, circuit clerks, school board members and county commissioners -- have taken advantage of the benefit. Thirty-one signed up in the past six months.

The loophole was created, as are so many in Tallahassee, on the last night of a legislative session, when few people notice what gets into bills flying through legislative hallways.

In 2001, lawmakers quietly amended a retirement bill, allowing elected officials to receive retirement benefits as well as regular pay while remaining in the same job. Sponsors said they were trying to help a few lawmakers who had been on school district payrolls before they won election to the Legislature.

More:
http://www.sptimes.com/2008/02/23/State/State_retiree_loophol.shtml

[L0oniX]

1. America ...where everyone rips off everyone. USA ...home of the rip off.

[Vet31203]

2. Im not so synical

We need to get out there and fight to get dems elected to deal with all this corruption!

William J Meyers for House 2008