TALLAHASSEE, Fla. (AP) — The Florida Senate on Tuesday defeated a proposal to revamp the state's vast public retirement system for future employees, denying House Speaker Will Weatherford one of his top goals for this legislative session.

Republican Sen. Wilton Simpson said he was giving up on his efforts to pass a pension overhaul this year after his colleagues in the GOP-led Senate rejected the approach preferred by the House.

The plan presented by Simpson resembled the House version by proposing to keep out new state and county employees and teachers from Florida's traditional pension plan. After a long debate, 18 senators voted for it and 22 against it.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.