Florida Pension System Better for Taxpayers
October 6, 2010 Leave a comment
A strong reason to transfer municipal employees to the Florida pension system–it is better managed than local funds.
Florida remains well over the minimum 80 percent funding level recommended by experts, according to the Pew Center on the States. In 2008, the state was one of only four to have a fully funded pension system, the Pew Center said in a February report. Its assets fell 21.5 percent to $99.6 billion in the year ended June 2009, according to the annual report of the State Board of Administration. Over the same period, the Standard & Poor’s 500 fell 30 percent.