Fix the FRS Before It Breaks

By Randall G. Holcombe, Ph.D. In a recent blog post I argued in favor of shifting the Florida Retirement System (FRS) that provides pensions for retired state workers to a defined contribution system, and privatizing the system. Governor Scott and many legislators favor the shift to a defined contribution system, and because many private companies … Continue reading Fix the FRS Before It Breaks

Privatize the Florida Retirement System

By Randall G. Holcombe, Ph.D. Over the past few years both Governor Scott and several members of the Florida legislature have been pushing the idea of transforming the Florida Retirement System (FRS), which pays pensions to retired state workers, from a defined benefit system into a defined contribution system.  A defined benefit system, which covers … Continue reading Privatize the Florida Retirement System

Florida’s Pensions Could Be Reformed Locally

By Matt Kelly On January 27th, the managers of 19 Florida pension funds received a “call to action” letter from the Florida Department of Management Services informing them that reforms are needed to address their unfunded liabilities. A previous blog pointed out that while Florida’s state’s employee pension fund is 86% funded (better provisioned than … Continue reading Florida’s Pensions Could Be Reformed Locally

The Current State of Pensions in Florida

By Matt Kelly With their swampy humidity and world famous theme parks, Florida’s cities seem a world away from the frigid cold and automotive factories of Detroit, Michigan. Yet the two states have at least one commonality: underfunded pension liabilities. Such liabilities can potentially put a state or municipality into budgetary crisis, even bankruptcy. Reforming … Continue reading The Current State of Pensions in Florida

San Diego’s Pension Reform Bodes Well for Carl Demaio

Original post date: October 10, 2013 Article by: Anonymous Carl DeMaio is one controversial congressional candidate. He served from 2008 to 2012 as city councilman of San Diego, where his ideas for pension reform became popularized, and he is also a policy analyst at the Reason Foundation where he writes about government reform. DeMaio is … Continue reading San Diego’s Pension Reform Bodes Well for Carl Demaio

Florida’s Public Pension Funding #1

Original post date: November 29, 2012 Article by: Anonymous Despite all of the controversy surrounding the soundness of Florida’s public pension programs, a report by Jagadeesh Gokhale at the Cato Institute recognizes Florida as the number one state in terms of public pension plan health. This may be surprising due to all of the scrutiny Florida’s … Continue reading Florida’s Public Pension Funding #1

Controversy Over Pension Liabilities May Leave Taxpayers in the Hole

Post date: November 13, 2012 Article by: Anonymous A recent report published by the Leroy Collins Institute at Florida State University regarding Florida’s increasingly unfunded public pension plans received some controversial feedback, largely in response to the accounting methods used. Critiques of the study were published by actuaries who claim that cities’ plans were inaccurately … Continue reading Controversy Over Pension Liabilities May Leave Taxpayers in the Hole

Municiple Pension Forcing Florida Over a Fiscal Cliff

Original post date: October 05, 2012 Article by: Anonymous Florida public pension programs have become a cause for concern in recent years, and the debate just ramped up with the publication of a new report by Florida State University’s Leroy Collins Institute. Florida cities are facing a fiscal cliff on municipal pension funding, and much … Continue reading Municiple Pension Forcing Florida Over a Fiscal Cliff