Real Assets Could Support Stronger Fla. Pension Funding
By Michael Imber (August 26, 2021, 10:46 AM EDT) -- In Florida, active employees in many municipalities might wonder if their post-retirement financial welfare is assured.
As Florida's towns and cities recover from the pandemic, it is worthwhile to consider how to benefit underfunded municipal pensions and ensure stable retirements. The municipal pensions could benefit from a government contributing its unused or underutilized hard assets to a trust.
The Florida Department of Management Services tracks 245 defined pension plans across the state's various municipalities. Of these plans, 104 have a funding ratio of 90% or better; the remaining 141 pensions collectively owe $11 billion with an average funded ratio of 72%....
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