Rick Scott Will Take Away Your Retirement

I can't believe the number of officers who are supporting Rick Scott, he has out right told you he is going to harm your pension and make you work longer to get what little bit he leaves you and still these officers are looking through rose colored glasses believing Rick Scott is going to take care of them.

The only thing Rick Scott is going to do is dismantle the pension system and raid the over 119 Billion dollars for himself and his buddies.

Rick Scott is a liar and a fraud.

I can't believe the number of officers who are supporting Rick Scott, he has out right told you he is going to harm your pension and make you work longer to get what little bit he leaves you and still these officers are looking through rose colored glasses believing Rick Scott is going to take care of them.

The only thing Rick Scott is going to do is dismantle the pension system and raid the over 119 Billion dollars for himself and his buddies.

Rick Scott is a liar and a fraud.

I can explain it for you.

1. THE GOVERNOR CANNOT CHANGE FRS. Only the legislature can do so. Accordingly, your fear tactic that Scott would destroy FRS is a toothless threat.

2. Alex Sink is A POLITICAL INSIDER WHO WILL BRING US MORE OF WHAT WE HAVE BEEN GETTING FROM POLITICIANS. Her husband is a career politician and her family has been involved in Florida politics for decades.

3. Rick Scott is NOT a politician. He will bring new perspective to Tallahassee. We need a fresh start.

Quit your fear mongering.............

:wink:

Rick Scott has promised that he will CUT property taxes 19% across the State if elected? Aren't most Counties & Cities already in a huge hole due to the housing crunch and the drastic reduction in property taxes caused by it? Aren't many Counties & Cities (just like HCSO) freezing pay and laying people off directly due to this matter? Another 19% CUT in property taxes is crazy, dangerous and downright foolishness to promise at a time like this. HCSO is already hundreds of deputies shorthanded on the street, a big part of which I blame on too many specialty squads, but the fact is we are still very shorthanded and this would only make it worse. Not only that, but say goodbye to any future pay raises, not that another 1% raise is worth worrying about.... :roll:

Rick Scott has promised that he will CUT property taxes 19% across the State if elected? Aren't most Counties & Cities already in a huge hole due to the housing crunch and the drastic reduction in property taxes caused by it? Aren't many Counties & Cities (just like HCSO) freezing pay and laying people off directly due to this matter? Another 19% CUT in property taxes is crazy, dangerous and downright foolishness to promise at a time like this. HCSO is already hundreds of deputies shorthanded on the street, a big part of which I blame on too many specialty squads, but the fact is we are still very shorthanded and this would only make it worse. Not only that, but say goodbye to any future pay raises, not that another 1% raise is worth worrying about.... :roll:

Are you gullible or simply trying to mislead the gullible?

The governor doesn't administer property taxes.

There are 12 ad ad volorem and 4 non-ad volorem taxing authorities listed on my property tax bill. These authorities, NOT THE GOVERNOR, establish the millage rates for their individual areas of responsibility.
Virtually all of these authorities are within our county and the taxes they collect stay here.

When Rick Scott is elected you are not going to see him make a 19% reduction in your property tax bill.

:!:

Pension Fund is Center of Debate

October 8th, 2010 by Mike Vasilinda

The soundness of Florida’s pension fund has been center stage in a TV ad war in the Governor’s race. It will also likely be a bone of contention when the two candidates square off in their first debate later this evening. But as Mike Vasilinda tells us, the fund is posting healthy returns.

Rick Scott has been saying this about Alex Sink and her management of the state pension fund.

“Sink promised to crack down on financial fraud, but she lost billions of Florida’s pension funds.”

Here are the facts: the fund hit an all-time high of 136.4 billion, right before the market crashed in 2007. Thursday it was at 119 billion or about 17.4 billion less.

Over the same time, it paid out roughly 13 billion to police, firemen, teachers and state retirees.

Ash Williams manages the fund and notes that when the market dived, Florida fared better than most.

“The S&P was down about 40 percent in 2008 and the Florida retirement system trust fund was down less than half that amount,” Williams said.

Williams reports not only to Sink, but to Governor Charlie Crist and the Attorney General as well.

Attorney General Bill McCollum is one of three overseers of the pension fund and even he has called the charges against Sink unfair.

Sink has responded to the Scott ad with this:

“The Investment Management Weekly just reported that Florida’s pension fund earned record-breaking returns.”

Williams wouldn’t speak to the governor’s race, but he did point out the recognitions the fund has won.

“We lost less than the broad market when the big downturn came, and we’ve compounded capital very effectively during the rebound,” Williams said.

Since July the fund has increased 10 billion dollars, or about twice as fast as the rest of the market.

Would you rather believe Rick Scott who tells the truth that the current pension benefits are unsustainable or Alex Sink's lies and empty promises to buy your votes? Benefits will have to be cut no matter who gets elected. Jeb Bush bought off the unions with unrealistic pension promises (3% annual accumulation factor for high risk) which were not backed up by economic reality. Now public employees' benefits have to be adjusted to the new reality. Retirees and current employees will have to share the pain, otherwise, the FRS will end up like Ilinois, California, New-Jersey, Coloarado, etc. Don't kill the golden goose by voting for Sink. While she was asleep at the wheel as an FRS trustee, the fund lost a lot of money on questionable investments. She also plans to take $2 billion of the FRS money and invest it in envornmentally friendly start up companies in Florida to ostensibly create jobs. The FRS's mission is to maintain pensions for thousands of retirees and future retirees, not to finance her croonies' business ventures or create jobs. This is unexcusable given that she is Florida's Chief Financial Officer with a background in Finance. Alex Sink is dangerous to your pension.Guest
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Report this postReply with quoteRe: Rick Scott Will Take Away Your Retirement
by Guest on 10/31/10 07:00:36

Ash Williams manages the fund and notes that when the market dived, Florida fared better than most.

“The S&P was down about 40 percent in 2008 and the Florida retirement system trust fund was down less than half that amount,” Williams said.



First of all, Williams is misleading to protect his own job and hide his incompetence by using he wrong benchmark - the S&P 500 index. The FRS pension fund was about 65% invested in stocks and 35% in bonds when the stock market began declining in late 2008. So while the 65% stock side lost a bit more than half (about 33%), the 35% in bonds gained around 12%. That's why the pension fund's loss was only around 25% or a bit less than the 57% of the loss of the S&P 500 index. Not because Williams or anyone else at the FRS has any superior investment skill. Also Williams fails to disclose that the FRS fund underperformed and earned an average annual return of about 3.5% over the last 10 years while a 50/50 global stock index + total bond market index would have earned about 5% average annual returns over the same period, without paying high fees to his Wall Street buddies.

Would you rather believe Rick Scott who tells the truth that the current pension benefits are unsustainable or Alex Sink's lies and empty promises to buy your votes? Benefits will have to be cut no matter who gets elected. Jeb Bush bought off the unions with unrealistic pension promises (3% annual accumulation factor for high risk) which were not backed up by economic reality. Now public employees' benefits have to be adjusted to the new reality. Retirees and current employees will have to share the pain, otherwise, the FRS will end up like Ilinois, California, New-Jersey, Coloarado, etc. Don't kill the golden goose by voting for Sink. While she was asleep at the wheel as an FRS trustee, the fund lost a lot of money on questionable investments. She also plans to take $2 billion of the FRS money and invest it in envornmentally friendly start up companies in Florida to ostensibly create jobs. The FRS's mission is to maintain pensions for thousands of retirees and future retirees, not to finance her croonies' business ventures or create jobs. This is unexcusable given that she is Florida's Chief Financial Officer with a background in Finance. Alex Sink is dangerous to your pension.Guest
Top
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Report this postReply with quoteRe: Rick Scott Will Take Away Your Retirement
by Guest on 10/31/10 07:00:36

Ash Williams manages the fund and notes that when the market dived, Florida fared better than most.

“The S&P was down about 40 percent in 2008 and the Florida retirement system trust fund was down less than half that amount,” Williams said.



First of all, Williams is misleading to protect his own job and hide his incompetence by using he wrong benchmark - the S&P 500 index. The FRS pension fund was about 65% invested in stocks and 35% in bonds when the stock market began declining in late 2008. So while the 65% stock side lost a bit more than half (about 33%), the 35% in bonds gained around 12%. That's why the pension fund's loss was only around 25% or a bit less than the 57% of the loss of the S&P 500 index. Not because Williams or anyone else at the FRS has any superior investment skill. Also Williams fails to disclose that the FRS fund underperformed and earned an average annual return of about 3.5% over the last 10 years while a 50/50 global stock index + total bond market index would have earned about 5% average annual returns over the same period, without paying high fees to his Wall Street buddies.

The above post was brought to you from the Rick Scott campaign.

If you want to have to work 40 years as a LEO before you can retire and then after Rick Scott gets done raping your pension system you still won't be able to live on the retirement Rick Scott will have left you, then go ahead and vote for Rick Scott.