The Buzz

From the staff of the Tampa Bay Times

Rick Scott calls pension fund a top priority, worries it's in worse shape than we know

2

January

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. He thinks the pension is betting on achieving unrealistically high returns to meet its obligations to future retirees. And he fears using these rosier estimates merely delays the day of reckoning for taxpayers who will be on the hook for growing deficits. Saying that he hopes to be a two-term governor, Scott promised that by the end of eight years public employees could be confident that "…the money's going to be there when they retire." In a 45-minute interview with the St. Petersburg Times, Scott said the state's $122 billion pension would be one of his top priorities – and not just because it's a lot of money. "More important than that, it's a whole bunch of people's livelihoods," he said. Read more here.

[Last modified: Sunday, January 2, 2011 11:00am]

    

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