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No major changes proposed for Florida pension fund

By: Associated Press
By: Associated Press

TALLAHASSEE, Fla. (AP) - Consultants have recommended no major
investment strategy changes for Florida's public employee pension
plan although it has lost billions in the financial market
meltdown.

The State Board of Administration, chaired by Gov. Charlie
Crist, is scheduled to vote Tuesday on proposed revisions to the
state's investment policy, but the changes would be slight.

Crist and other officials say Florida's retirement fund is built
for the long haul and has fared no worse than most big investors
and better than some major Wall Street indicators.

The fund, which provides pensions for state and local employees
including teachers, is down to about $100 million after losing more than a quarter of its peak value.


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