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Bill sponsor Bob Rommel said the legislation would “send a message” that Florida won’t engage with corporations using “progressive ideology” or “exercising corporate activism when issuing bonds.”
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Reports show the Florida pension system had investment losses of about 6.2 percent during the fiscal year that ended June 30 — similar to pension-system losses across the country.
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Said DeSantis: “Our investment of funds should be for the best interest of our beneficiaries here in the state of Florida, it should not be a vehicle to impose an ideological agenda.”
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The Florida Retirement System (FRS) until recently was led by a man who helped make the system a model for states around the country. Ash Williams managed a range of state investments, including the Hurricane Catastrophe Fund and money for local governments
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The proposal would require future employees in the Florida retirement system to enroll in a 401(k)-style "investment" plan, and not a pension plan.
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It would require new state employees to enroll in a 401(k)-style plan instead of a pension plan.
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Broward County teachers want their retirement money out of companies that make guns.
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Florida's state-run pension plan is going to sue a pharmaceutical company over millions in losses that top officials contend were due to fraud.
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The Florida House passed a controversial bill making changes to Florida’s Retirement System.
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Last week, Florida democrats met in the capitol to discuss plans to oppose statewide pension reform, and now they can check it off their to-do list- the...
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While the Senate has said it won’t start any talks to reform Florida’s Retirement System this year, a House panel is moving forward. During Wednesday’s...