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Mon Oct 14, 2019, 05:58 PM

Pay attention retirees: Unrealistic decisions by the state could hurt Florida pensioners

The Florida Retirement System Actuarial Assumption Conference will meet this month. The room will not be crowded.

But the decisions the financial analysts on the committee make will be critical to the more than 1 million public workers in Florida who rely – or will rely – on the state pension system for their retirement benefits.

A key decision by the panel will involve the $160 billion-plus pension fund’s “assumed rate of return” during the next budget year, which begins July 1.

Ash Williams, head of the State Board of Administration, which oversees the pension fund, describes that decision as “an unexciting, highly arcane issue.” But he also told Gov. Ron DeSantis and Cabinet members last month: “It’s an important issue.”

Read more: https://www.floridaphoenix.com/2019/10/07/pay-attention-retirees-unrealistic-decisions-by-the-state-could-hurt-florida-pensioners/

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