Florida Gov. Rick Scott intends to sign pending legislation requiring employees in the $131.3 billion Florida Retirement System, Tallahassee, to contribute 3% of their pay, said Lane Wright, Mr. Scott's press secretary.
Currently, employees don't contribute.
The Florida Legislature on Friday is expected to vote on the legislation requiring the contribution and other pension changes, according to a statement from the Associated Industries of Florida, an employer group.
The bill includes raising the retirement age for police, fire and other special-risk class employees in the system to age 60 from 55 and for other employees to 65 from 62, according to the AIF statement.
An estimate of total assets the employee contributions will raise was unavailable.
“It is my goal to continue to modernize Florida's retirement system until it is no longer reliant on our state's taxpayers.” Mr. Scott said in a statement. “But I'm pleased that we're moving in the right direction.”
State Rep. Ritch Workman and state Sen. Lizbeth Benacquisto, key legislators involved with the bill, couldn't be reached for comment.