Ybor City

Wilson interview

 33

 made $1800 you still had for the $1200. After

 thirty-five years you could make fifty dollars a month.

M: That still wasn't much.

W: Atsixty. And we did Plan B which let you make fifty dollars

 a month if you were fifty-five. And C, we let you make, it

 was a different formula, 1.67 instead of 1.43. You could

 make more at fifty-five. Or you could do it with thirty years

 of service instead of thirty-five. That's what it was. And

 then D you could do it with twenty-five years of service

 at fifty. But it was so good that it, of course, it cost

 a lot of money. It cost the people a lot of money, the

 teachers too if they elected to take it. Then in 1953 they

 stopped Plan D for all new people and they let all of the

 ones in there I mean you could stay on it, but after 1955

 nobody could come in under Plan D. And we passed Plan E in

 1955. A, B, C, and D were money-purchase pension plans.

 We wrote Plan E as a guaranteed retirement plan. And we con-

 vinced the legislature it was going to save them money when

 actually it was going to cost them more. But that's the only

 bill I ever really worked on and sold before the bill was

 introduced. I got it introduced by all of the members of the

 retirement system, the retirement committee signing it and

 introducing it as a committee bill.