State retirement fund dips amid Euro trepidation

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The balance in the Florida Retirement System of $121 billion is a 1.2 percent increase since January 1, but about $7 billion lower than $128 billion that represented the high point of the fund year-to-date, reports the News Service of Florida. Volatility in the European market, including uncertainty over the success of austerity measures in Greece, has made the market extremely volatile, said Ash Williams, executive director of the Florida State Board of Administration, which manages the bulk of state funds.

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