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Florida’s pension fund gains $10 billion in value

The Florida Retirement System pension plan grew by 13 percent during the last fiscal year to reach a value of $132 billion. That double-digit growth through the end of June added almost $10 billion to the pension plan’s value.

The account funds retirement payments for state workers, teachers and other public employees, the Associated Press said. The preliminary numbers were released this week by the State Board of Administration.

Additionally, the number of workers enrolled in Florida’s “investment plan” for state employees has grown. The plan has attributes similar to a 401(k) plan used by many private companies, the AP said.

http://www.bizjournals.com/jacksonville/blog/2013/08/floridas-pension-fund-gains-10.html

Copyright © 2013, The Associated Press


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