Public Pensions2018-05-03T20:14:26-04:00

Public Pensions

The challenges facing public pension programs are nationwide – states, counties, and municipal governments from almost every state are beginning to reckon with the promises made to employees over the course of generations, and the fiscal realities of both meeting those obligations while at the same time realizing that promises made for prior generations are not fiscally sustainable for future ones.

Floridians look at places like Detroit, California, Chicago, and others and rightly worry that we could find ourselves in the same position. While Florida’s statewide retirement system, which covers state government, the State University System, and county/school district employees is considered relatively sound financially, it maintains this position as a direct result of hundreds of millions of dollars from state appropriations every year. At the municipal level, the problem is much more dire – pension funds from large and small cities around the state present as a ticking time bomb, where retiring workers’ benefits will vastly outnumber the resources available to meet them.

JMI will continue to work to advance the concepts of defined contribution programs for new public sector employees, along with market-based reforms that better illustrate the financial situations of public pension programs.

Recent News

The Best Way for Florida to ‘Take on Big Tech’ Is to Keep Welcoming the Crypto Community

Platform censorship results from centralized design. Cryptocurrency techies are building decentralized alternatives. If you want to build cryptocurrency applications, there are few better places to be than Miami these days. Set aside the great weather and established financial industry for a moment. By moving to Florida, fintech firms can not only enjoy [...]

JOINT RELEASE: JMI, NTUF, and ATR Applaud Florida Policymakers on Revenue Neutral Remote Sales Tax Policy

FOR IMMEDIATE RELEASE Feb. 19, 2021 CONTACT INFORMATION Emerson W. George (850) 320-3803 emerson@jamesmadison.org JMI, NTUF, and ATR Applaud Florida Policymakers on Revenue Neutral Remote Sales Tax Policy TALLAHASSEE – The James Madison Institute today released a joint statement alongside the National Taxpayers Union Foundation and Americans for Tax Reform [...]

These Shocking Graphs Show Florida’s Far Better COVID Outcomes With Far Milder Lockdown Than New York, California

By Elle Reynolds February 18, 2021 Gov. Ron DeSantis has put the leaders of locked-down blue states to shame, and Democrat politicians are ashamed to admit it. On a flight out of Orlando last month, I met a friendly Canadian family with three young children. We started chatting, and I [...]

Go to Top