TALLAHASSEE, Fla. (AP) - A new report shows Florida's employee
pension fund is showing a projected $8.7 billion deficit for this year.
That's the result of declining values for stocks and other investments due to the national recession.
However, it won't affect benefits paid to retirees, said Dennis MacKee, a spokesman for the State Board of Administration, which oversees state investments.
MacKee said Thursday the Florida plan, which covers state and local government employees still ranks among the best funded of all state plans.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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