May 21, 2013
Florida's pension chief is telling state leaders they may need to lower the amount of money they expect the state to earn off pension fund investments.
Ash Williams, executive director of the State Board of Administration, has written legislative leaders twice recently suggesting that Florida may need to revise investment targets. Williams has also suggested steering additional state money into the nearly $130 billion Florida Retirement System if those targets are not met.
Those changes, however, would be an expensive change that legislators would have to pay for in the state budget.
The financial crisis of the 2008 cost the pension fund billions. It does not right now have enough money to cover all current and future benefits for public employees although it still considered healthy by many financial experts.
