Florida Association School Administrators Florida Association of Elementary & Middle School Principals Florida Association of Secondary School Principals Florida Association of Instructional Supervisors & Administrators Florida Support Administrators Association Florida Association of District School Superintendents Florida Assistant Principal Association Florida Association of Professors of Educational Leadership
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The association for administrators, district superintendents, principals, assistant principals, supervisors and those who support the public schools of Florida.

MESSAGE FROM EXECUTIVE DIRECTOR, JUHAN MIXON ED.D

Originally published Friday, August 28, 2015.

Juhan Mixon, Interim Executive Director

FASA and IBC: Advancing Educator Benefits

Since the 1940s the State of Florida has provided governmental retirees the opportunity to purchase healthcare through the agency from which they worked. Healthcare costs are increasing at approximately 10% and pharmaceutical costs upwards to 30.9% and higher especially for specialty maintenance drugs. The financial impact on state agencies and retirees is overwhelming.

The typical Florida Retirement System employee is estimated to make $49,898 annually. The IRS takes $5,350 and individually health insurance takes another $6,500. This leaves the retiree with about $3,170 a month to live; so retirees need to have another source of income like a 403(b) plan to live comfortably. The problem becomes more complicated as retirees move from one region of the state to another and when the healthcare provider is restricted to a region.

Governmental agencies typically pay part of the healthcare premium; the FRS pays up to $150 a month for employees with 30 years’ experience; and the individual picks up the balance. This has created a cumulated unfunded liability especially for school districts because educators are proportionally the largest segment of the FRS. In 2011 it was estimated that the 67 school districts had an unfunded liability in excess of $3 billion. The government will soon require districts to report the entire liability rather than amortize it over many years. The result may reduce financial ratings and increase loan and bond costs to school districts.

In a recent survey, 40% of employees felt they would never be able to retire. Thirty-four percent plan to work will past retirement age because they have to work to make ends meet and, another 40% indicate they will work past retirement age because they want to work. Fifty percent of all workers said they will be unable to pay for medical expenses during retirement.

The Independent Benefits Council (IBC), composed of the Florida Association of School Administrators, the Florida Association of District School Superintendents, the Florida School Boards Association and the Florida Education Association, formed in 2001 to assist employees and school districts with retirement related initiatives. The IBC created the Florida School Retirement Benefits Consortium (FSRBC) to help increase benefits and reduce cost for public school retirees. Simultaneously, the FSRBC wanted to reduce the unfunded school district liability.

These goals have been accomplished. The new program leverages collective buying power of participating districts. The program initiated in Polk, Miami-Dade, Brevard, Escambia, and Duval counties in now expanding to other districts statewide.

Under the plan, retirees have more options, guaranteed issue at same or lower premiums. Retirees will be able to live anywhere in Florida without fear of losing healthcare coverage. The FSRBC plans provide for pharmacy, vision and dental coverage. They also offer non-medical benefits such as life and pet insurance, theft protection and IT support. Each option is at a lower cost than retirees pay currently.

Districts also reap benefits. For example, in Brevard County, the district saves $53 a month per person. Additionally, the district is estimated to save $284,444 in administrative fees and another $104,744 in savings with Medicare retirees on the Consortium plans. Simultaneously, Brevard will reduce its unfunded liability by 50% over the next 30 years.

FASA is proud to be an integral player in the IBC. We are diligent to protect and advance benefits to current and retired educators.

Previous Messages from the Executive Director

August 28, 2015
August 21, 2015
August 14, 2015
August 7, 2015
July 31, 2015
July 24, 2015
July 17, 2015
July 10, 2015
July 3, 2015
June 26, 2015
June 19, 2015
June 12, 2015
June 5, 2015
May 29, 2015
May 22, 2015
May 15, 2015
May 8, 2015
May 1, 2015
April 24, 2015
April 17, 2015
April 10, 2015
April 3, 2015
March 27, 2015
March 20, 2015
March 13, 2015
March 6, 2015
February 27, 2015
February 20, 2015
February 13, 2015
February 6, 2015
January 30, 2015
January 23, 2015
January 16, 2015
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December 19, 2014
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November 21, 2014
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October 31, 2014
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September 26, 2014
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FASA
Florida Association of School Administrators, Inc.
206B S. Monroe St.
Tallahassee, FL 32301
Phone (850) 224-3626
Fax (850) 224-3892