Current Pension System Not Sustainable for Employees and Taxpayers

By: Florida Chamber of Commerce

 

Taxpayers deserve an efficient government that provides the highest return to taxpayers with the lowest burden on job creators. Yet when it comes to Florida’s state public pension system, there is one stubborn fact that remains: the system currently has $21.6 billion in unfunded liabilities, translating to an annual payment of $500 million for the next 43 years. The bottom line is that Florida’s state and many local pension systems are not sustainable. Listen to the below WNDB- Daytona Beach radio interview with Leticia Adams, Policy Director at the Florida Chamber of Commerce, and learn why Florida doesn’t need to end up like Detroit. The Florida Chamber has long-championed pension reform and continues to advocate for sustainable retirements that protect employees and taxpayers.