Pension System Failure

A public employee union said Gov. Jeb Bush and the other members of the board that run the state's pension system failed to properly monitor investments when the fund lost millions of dollars.

The American Federation of State, County and Municipal Employees recommended that the board of elected officials be replaced by an independent board that would include state employees.

The state lost $335 million on Enron stock when the company went bankrupt and is now suing the investment manager that bought and held onto Enron stock as the price deteriorated.


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