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Florida state pension plan posts 7th year of positive gains, now worth $141B

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Florida’s state retirement system is showing a net gain over the past fiscal year, a streak of positive returns now in its seventh year. LobbyTools reports that Florida State Board of Administration released preliminary investment performance figures Tuesday for the fiscal year ending June 30. The numbers show the Florida Retirement System Pension Plan earning 0.61 percent, beating its benchmark and finishing the year with a market value of $141.42 billion. According to the report, three sectors had the highest…

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Sunday’s editorial pages

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St. Petersburg Times – Poor Stewards Of Our Money: “As St. Petersburg Times staff writer Bill Varian details in today’s Perspective, many local governments went on a binge when times were good, expanding their budgets, giving generous raises, building new facilities and hiring to staff them. And now that times are bad, the choices and the cutbacks are far worse than they would have been had governments been more fiscally circumspect. In the boom times, government failed to plan for…

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