By Raymond Edmondson, Jr.
Closing the state's defined benefit public pension plan in favor of individual defined-contribution, 401(k)-style accounts, as the Florida Legislature is considering, is misguided thinking.
The public has been frightened into believing that public pensions will "bankrupt" the state, but that couldn't be further from the truth. Florida's state retirement system has been ranked a "top performer" in a national comparison by Pew research and is currently 87-percent funded - well above the actuarially determined standard of 80 percent.
Despite the drumbeat of media reports faulting ...
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