Joe Negron: Court Pension Ruling Could Loom Large on Budget

Florida has a stable economic outlook, but the pending Florida Supreme Court decision on the 2011 law that required employees to pay 3 percent of their salary toward their pension could change that, Sen. Joe Negron, chairman of the powerful Appropriations Committee, said Wednesday.

The Stuart Republican said one goal of the budget for 2013 will be to increase the states reserves from $1 billion to $1.5 billion to maintain the states credit rating and as a brace in case the states top court rules in favor of the unions that opposed the pension law.

Florida's top economist Amy Baker, who estimated a ruling against the state could result in as much as a $2 billion hit to the state to repay workers, said that while no timeline has been given for the court to rule, a decision is expected before the 2013 session begins in March.