Weekly Wrap Up: For the Week Ending February 15, 2013

The week in Tallahassee was mainly a series of special reports and presentations on state and local pensions. These actions are necessary to fully inform everyone on the financial stability for local pension plans and the Florida Retirement System (FRS). The real takeaways from all of it can be summed up like this: 1) the FRS is one of the healthiest pension funds in the entire world and has proven to be resilient in the face of the Great Recession; 2) local pensions are improving as a result of local collective bargaining agreements, the rebounding financial market, and 2011 Legislative reforms; 3) using a grading system for pension plans can be an oversimplification of a plan's overall financial health.

The following links are for anyone interested in reading the reports, watching the committee meetings, or seeing the statewide media's coverage:

2/13 The House of Representatives Government Operations Subcommittee - This meeting allowed the Leroy Collins Institute (LCI) to present its latest study on the Grading of Local Pension Plans. The presentation was followed by public testimony. Much of the public testimony called the LCI study into question. PBA Lobbyist and Treasurer Ernie George provided comment on our behalf.

http://thefloridachannel.org/video/2131 ... committee/

Committee packet for the Meeting (includes the Leroy Collins Institute's presentation)

Tampa Bay Times:In pension debate, experts deride well-publicized non-partisan study on the health of municipal pensions

2/14 The House of Representatives State Affairs Committee - This meeting allowed the various agencies in charge of the FRS and local pensions to present the financial health of each plan to the committee.

http://thefloridachannel.org/video/2141 ... committee/

The above video links for both committee meetings are provided by the Florida Channel.

Until next week, stay safe.