Dean Cannon: Fulford's Pension Ruling Won't Create Budget Crisis

House Speaker Dean Cannon, R-Winter Park, told reporters he doesn't expect the ruling by Circuit Judge Jackie Fulford on Tuesday to create a budget crisis as the session winds down.

"I think more so it validates the wisdom of always having $1 billion in reserve," Cannon told reporters following the ruling. Thats the position the House has long insisted upon in our budget negotiations. Its the type of thing that just preserves the states credit rating, bond rating with the agencies.I think it just shows (the importance of) being prudent, of being conservative, in our budgeting policy.

Fulford's ruling thatthe requirement that all employees, regardless of when hired, pay 3 percent of their paywas unconstitutional, could mean a refund with interest to the more than 655,000 state and local government workers who pay into the Florida Retirement System.

However, state leaders have said they will appeal the ruling by Fulford, an appointee of former Gov. Charlie Crist, and are expected to ask for a stay on the repayment.