Welcome to

Capitol News Service

Florida's Best Political Television Coverage

 


Visit the Lobby Tools Website

 


Visit Legislative IQ Website

 


Recent Posts

Categories

Archives

RSS Capitol News LIVE

RSS Quote of the Day

  • Sophocles
    "Wisdom outweighs any wealth."
  • Leo Rosten
    "Some things are so unexpected that no one is prepared for them."
  • Franz Kafka
    "God gives the nuts, but he does not crack them."
  • Jackie Kennedy
    "I want to live my life, not record it."

Sink: Pension Fund Is Sound

March 20th, 2009 by flanews

The economy is taking a huge toll on Florida’s pension fund. The fund dropped about 20 percent of its value over the past year. Still Florida’s fund is among the healthiest pension plans in the nation, because it held an eight billion dollar surplus before the economy went south. Florida’s Chief Financial Officer Alex Sink says retirees depending on the fund shouldn’t worry.

“The pension fund is very sound and certainly they’ve taken a hit just like anyone else’s investment portfolio has taken a hit over the last year, but fortunately here in Florida we started off in an overfunded position so we had a cushion to begin with,” said Sink.

If the fund drops too much, city and county governments could be asked to put more money into the system. CFO Sink says she doesn’t see that happening anytime soon.

Posted in Economy, State Budget, State News | No Comments »

Leave a Comment

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.

copyright © 2016 by Capitol News Service | Powered by Wordpress | Hosted by LyonsHost.com