Our Florida Retirement System contribution is already taken out of our salary. Look at your pay stub and your will see it listed on the bottom. It was explained to me that the FRS contribution is included in the state's salary cost and therefore included the money package that Florida feeds the district. The district then sends the state the FRS contribution in our name.
If we are required to pay the 5% from our gross pay WITHOUT being given the 5% upfront that is included in the salary calculation - then we are really losing 10%!!! Plus are we taxed on the money? If so then how can we be taxed when we "redeem" it?
If they slide the money from the state to us ( as a raise?) and we are forced to give it back to the state then all that has happened is a slick-rick shell game!
Since we are then sending money in our name, don't we have the expectation that all money contributed by us will revert to our heirs if we die before collecting? Now the state just keeps it! Which perversly make some sense.
This is nuts!
Time to make ourselves REALLY HEARD.
We must join the cops and firefighters in this and be ready to take a stand.
We must remember that gambling proceeds will never find their way to their target. Need I remind you of the lottery-education connection? Some promise, huh?
Monday, February 7, 2011
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