fbpx

Senate Bill 1310 (Cost of living adjustment)

What the Bill Does

SB 1310 restores cost-of living adjustments that were stripped from FRS when austerity measures were passed in 2011.

Employees who are part of the FRS pension plan, who were employed and part of the pension plan prior to July 1, 2011 and who retire or retired on or after July 1, 2011 shall receive an annual cost of living adjustment (COLA) of not less than 2%.

This applies both to those who are currently retired within the dates specified above as well as the retirement of those who are still working but earned FRS credit prior to July 1, 2011. 

What’s Next

SB 1310 has been assigned to the Government Oversight and Accountability Committee but has not yet been placed on an agenda.

Companion Bill

HB 1023

Vote History

n/a

Our Position

We support this bill.

Talking Points

  • In 2011 lawmakers changed the rules for employees who had selected the pension option for their retirement benefit.  This change eliminated the Cost of Living Adjustment (COLA) for any new employee hired after July 1, 2011, but it also froze the COLA rate for anyone currently working.  This meant, the promise of retirement security for those already working under the Florida pension system was broken.  This bill restores that promise.   
  • After a lifetime of serving the public, educators deserve to live in dignity when they retire. This small cost of living adjustment will help to make sure retired educators are able to afford to live independently and enjoy their retirement without having to seek out employment in their golden years.  
  • As the largest employer in most of Florida’s 67 counties, the financial health of the county as a whole cannot be separate from the financial health of retired school employees. Providing this COLA, therefore, not only helps the retirees to afford to survive it helps small businesses and every other place retirees spend their money. 
  • Florida not only leads the nation in number of retired persons, italso leads the nation in retired persons living in poverty—it is time to end this national shame. One way to do so is to ensure that educators who have dedicate their live to helping Florida and Florida’s students have at least a minimal cost of living adjustment. 

Video Updates

n/a

Cover Story: They love their students — will they stay?

As Florida’s school districts continue to experience difficulties in recruiting and retaining teachers and education staff, FEA decided to talk to a handful of early career educators about why they…

Read more about Cover Story: They love their students — will they stay?

Andrew Spar: Building relationships is key to lifting up our students, schools and professions

Another school year is upon us, and I am sure we all have been hoping for the same thing — a normal school year. The past year and half have…

Read more about Andrew Spar: Building relationships is key to lifting up our students, schools and professions

Carole Gauronskas: May we face our challenges with renewed passion

As we go forward into a new school year, I would like to take a few moments to look back over the past 18 months. First, I want to recognize…

Read more about Carole Gauronskas: May we face our challenges with renewed passion

St. Petersburg College Faculty Vote to Unionize

Faculty at St. Peterburg College (SPC) have spoken and by a vote of 193-56 established the 34th chapter of the United Faculty of Florida (UFF). With 295 eligible voters, 84…

Read more about St. Petersburg College Faculty Vote to Unionize

Poll shows Floridians united on strong public schools

The challenges facing Florida’s public schools this fall are acute — a pandemic that continues to create disruption and tragedy on campuses and in communities, a shortage of nearly 9,000…

Read more about Poll shows Floridians united on strong public schools

Reducing high-stakes testing is a win for students, schools

Today’s move to drop high-stakes Florida Standards Assessments (FSA) testing in the 2022-2023 school year is a big win for our students and public schools. It will free up time…

Read more about Reducing high-stakes testing is a win for students, schools