US - Florida's pension system, the fourth- largest in the US, can afford to cover only 87.9% of the benefits it promised because of losses from the recession since 2008, according to the state's actuaries.
The plan's underfunding widened from 89.3% last year, Robert S. Dezube, consulting actuary for Milliman Inc., told the Florida Retirement System Actuarial Assumption Estimating Conference today. ...
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