Questions, answers about pension changes

Some common questions asked by employees in Florida Retirement System about changes that begin July 1:

QUESTION: Can I opt out of paying 3 percent of my salary?

ANSWER: No. Employees for state and local governments that participate in the Florida Retirement System must enroll and must pay 3 percent of their salaries. There are two small exceptions. Those already in the Deferred Retirement Option Program and re-employed retirees who are prohibited from membership in FRS do not have to contribute.

Q: When is this going to happen?

A: Paychecks issued on July 1 and after will include the 3-percent deduction. Snuggs said Florida Chief Financial Officer Jeff Atwater moved up the pay date for state employees on a biweekly pay plan so that they'll get paid on June 1 instead of the scheduled July 1. That means, for those 90,000 state employees, only a week of pay earned before July 1 will be subject to the 3-percent contribution, an inequity Scott promised to make up next year.

Q: How much is it going to cost me?

A: The contribution is taken out before taxes. That eases the hit on the bottom line because it reduces income subject to taxes. Depending on how much you make, additional pre-tax deductions from income and other factors, the net cost is something around 2.7 percent, Workman has said. The division has a paycheck calculator on its website, MyFRS.com, to provide an estimate for your situation.

Q: What if I'm already retired? Are my benefits going to change?

A: No. "Benefits were not changed during the 2011 legislative session; the annual FRS cost-of-living adjustment remains at 3 percent, and the Retiree Health Insurance Subsidy (HIS) benefit did not change," according to division information.

Q: How is my cost of living allowance, or COLA, going to change?

A: As it is now, those who work up to full retirement years of service earn an annual 3 percent COLA increase to their benefits. For those who retire, or are already in the Deferred Retirement Option Program, by Aug. 1, 2011, that doesn't change -- COLA will still be 3 percent a year. For current employees who retire after this year, the COLA benefit will be reduced for years of service earned after July 1. It's pro-rated to the number of years of work before and after 2011. Lawmakers will revisit COLA in five years.

As an example, a 2012 retiree with 30 years of service would still get a 2.9 percent annual COLA based on 29 years earned with a 3-percent COLA and one year without it.

Finding a Gainesville Florida Home Contractor | Find Home ...

Gainesville is a large city in central Florida; it’s a great place to live, with a low cost of living (especially compared to the rest of Florida!) This might have something to do with the fact that it is home to the University of Florida, which is one of the largest universities in the United States, and one of the largest employers in Gainesville. Gainesville is committed to keeping costs low and satisfaction with the city high. One of the things they do to maintain this is by promoting solar power. They actually allow small businesses and homeowners to supply electricity into the municipal power grid, and they pay them for it.

If you’re looking for a home remodel contractor – whether it’s for a kitchen remodel or to install solar panels in your home to take advantage of the solar power program Gainesville has – it’s best to take your time and make the right choice. You want the right person with the right qualifications for the job, and the only way to make sure of this is to ask questions and make sure that you get the right answers. To do this, you absolutely need to know what the right answers are.

References – Will their references hire them again, if they have need of the contractor? The only answer to this is a resounding yes. A no or any waffling at all means an immediate disqualification of this candidate.

Do they pull all permits themselves? The answer again should be yes.

How long has the home contractor been in business? Do they have experience with the type of remodel you want done? Five years is a good timeline for a stable business, but it’s only a guideline. Five years gives them plenty of time to get experience on the job, and become familiar with the area. And experience with the exact type of home remodel you want done isn’t strictly necessary, but it is certainly a hiring factor. If you need a kitchen remodel, would you rather hire someone who has done 10 kitchen remodels in the last year, or someone who has never done one?

Asking questions of your home remodel contractor is crucial to making sure you get the right person. If, at any time, you don’t feel your candidate is being truthful or is waffling, go to the next one. Trust your instincts and get the facts, and make sure your home remodel gets done successfully.

Education reform in Florida, diversity and equity in public policy

CHOOSE FLORIDA FOR RETIREMENT, INFORMATION FOR TRAVEL, RETIREMENT, INVESTMENT, AN

How to Retire Happy, The 12 Most Important Decisions You Must Make Before You Retire

Choose Florida for Retirement, 3rd, Information for Retirement, Investment, and Affordable Living

Tampa Bay Magazine