Florida's pension fund
Read previous coverage of the Florida State Board of Administration pensions:
- Days before taking office as Florida's governor, Rick Scott said he's worried that the state's public pension fund, which posted a $16.7 billion shortfall last year, is in even worse shape than the public has been told.
- Managing a huge pot of public money: The agency manages more than $140 billion of public money, more than twice the annual state budget. The State Board of Administration invests on behalf of 1 million current and future retirees in the public pension fund, as well as for hundreds of local governments and dozens of other public organizations.
- A risky bet on the boss' friend: A deal to steer up to $100 million of Florida pension fund money to Bayview went forward though staff of the State Board of Administration and its paid consultants cited red flags.