Kudos to state for keeping law enforcement retirement funds strong
The Florida State Board of Administration has released an encouraging financial update on Florida’s retirement plan for Florida deputies, lawenforcement and correctional professionals, as well as stateworkers. Board of Administration Executive Director Ash Williams told the Florida Cabinet that the pension plan stands at $ 132 billion, nearly $ 10 billion higher than the previous fiscal year began. He attributed this outstanding result to “prudent diversification of assets, cost controls, and excellent fund manager selection.”
This reaffirms that Florida’s retirement plan for public servants continues to be one of the best managed and funded plans in the nation. It is especially good news for our law enforcement officers who serve the public every day knowing that their service could result in them making the ultimate sacrifice.
As Sheriffs, it is our duty and commitment to keep Floridians and visitors safe. It is good public policy to ensure that our pension system remainswell- funded with solid investments so that the financial welfare of these public servants in retirement is fair and reasonable. A well- funded retirement is one benefit that our state must provide to balance the daily risks for lawenforcement and their families.
We will continue to collaborate with the Florida Legislature and other chief executives to strengthen our pension plan to be able to respond to this challenging and unique economic environment. In light of the current 13 percent return on our pension fund investments, your Sheriffswant to take this opportunity to express our appreciation for continued effective and prudent management of these taxpayer dollars by the Florida State Board of Administration.
Wewant to thank the legislative leaders who continue to support their public servants by providing and protecting our pension plan and for continuing to seekways to make its fiscal health even better. Fortunatelywe live in a state whose leaders understand public pensions can only exist if they are managed effectively and do not become an unsustainable burden on our citizens.
With continued sound investments, proper asset management, and adequate funding, Florida’s retirement system will continue to shine as an example to others.
All our goals remain the same; to hold the great state of Florida up as a model, in every aspect— fromsafe communities with lowtaxes and beautiful natural resources to a balanced budget. This is the Floridawe love and support.