State Pension in Pretty Good Shape
January 3, 2011 Leave a comment
State pension funding is one of the least problems that the new governor will face. Also, Florida’s pension fund’s footing is one of the best among the 50 states. Mr. Scott seems to be in campaign-mode rather than good-governing mode. This seems to be a political distraction from the many other problems in the state.
Scott’s forecast of a deeper pension funding hole contradicts the position of the State Board of Administration, which invests $148 billion for more than 1 million current and future retirees and hundreds of state and local government agencies. The SBA’s outgoing trustees — Gov. Charlie Crist, Attorney General Bill McCollum and Chief Financial Officer Alex Sink — said the pension fund was recovering from steep losses it suffered during the recession.