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return on investment

State economists lower expectations for pension fund

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pension fund

State economists on Thursday decreased the Florida Retirement System Pension Fund‘s expected rate of return on investments to 7.6 percent, from 7.65 percent. The Actuarial Assumption Conference had stalemated earlier in the week, with some wanting the rate held at 7.65 percent, and others arguing to go down to 7.5 percent. Don Langston, staff director of the House of Representatives’ Finance & Tax Committee, agreed with the move, though not without some trepidation. “Unless something radical changes … to turn the long-term (economic) outlook around,…

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Economists agree to disagree on state pension fund

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pension plan

State economists on Tuesday deadlocked over changing the state pension fund’s expected rate of return on investments. The Florida Retirement System Actuarial Assumption Conference will meet again Thursday to see if members can compromise. Christian Weiss, economic policy coordinator for Gov. Rick Scott, argued for keeping the system’s assumed rate of return at 7.65 percent. But Don Langston, staff director of the House of Representatives’ Finance & Tax Committee, and Amy Baker, head of the state Office of Economic and Demographic Research, argued for lowering…

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House committee OK’s rewrite of state economic incentive program

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A series of rewrites to Florida’s economic-incentive programs, a chief priority of Gov. Rick Scott, passed its first House panel Tuesday afternoon. Lobby Tools reports that HB 1325, from Bradenton Republican Rep. Jim Boyd, seeks to establish a new Florida Enterprise Fund, as well as changes in the process of administering economic incentives for businesses to come to Florida. Several provisions of the bill are similar to a proposal (SB 1646) sponsored by Clearwater Republican Rep. Jack Latvala, including lower…

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Miami Dolphins ask state for stadium funding; short on ROI, long on wishful thinking

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Four Florida sports teams have come to Tallahassee with the hope of leaving with state money to renovate and improve facilities, a process where the first step is scheduled to begin at month’s end. Each applicant – Daytona International Speedway, the Miami Dolphins, Tampa Bay Buccaneers and Jacksonville Jaguars – is jostling for a slice of the Florida Department of Economic Opportunity pie, in the form of cash from the Sports Development Program. No one wants to go home empty-handed;…

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