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.

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.