The Buzz

From the staff of the Tampa Bay Times

State employees misled by pension fund report

20

March

The people who run Florida's giant public employee pension plan recently distributed a report reassuring hundreds of thousands of workers that their retirement fund was financially healthy and running a surplus. The plan "was fully funded for the 11th consecutive year, with an estimated $8.7 billion surplus, a major achievement considering the fact that most state public pension funds in the United States are underfunded,'' the report said.

But records show that almost three weeks before distributing the report on March 5, the people who run the pension fund knew that it faced a massive funding deficit.

Story here.

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[Last modified: Thursday, September 9, 2010 8:32pm]

    

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