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Saturday, April 4, 2020

Florida reports $5,894,750 in public pension contributions

Government

By Metric Media News Service | Mar 26, 2020

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As of June 2019, Florida had received $5,894,750 in contributions to its public pension funds, according to data obtained from the U.S. Census Bureau’s Annual Survey of Public Pensions.

Of that amount, $3,596,290 was in state pension funds, and the remaining $2,298,460 was in local government pension funds.

The survey includes public pensions sponsored by local and state government entities with employees who are compensated with public funds. The local governments include counties, townships, school districts and special districts.

The data gathered includes revenues, expenditures, financial assets, membership and liabilities information.

Residents in Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming do not pay state income taxes.

The Census Bureau cautions that not all respondents answer all survey questions. Thus, some fields were left blank.

Florida reported data from 472 pension systems, including 1 state-level pension funds and 471 local-level systems. The total number of pension system members was 715,965 (625,818 at the state level and 90,147 at the local level).

Contributions to Florida's public pension funds
Local
State
Local & State
Employee contributions
$481,148
$746,370
$1,227,518
Government contributions
$1,817,312
$2,849,920
$4,667,231
State government contributions
$172,799
$663,381
$836,180
Local government contributions
$1,644,513
$2,186,539
$3,831,052
Total Contributions
$2,298,460
$3,596,290
$5,894,750
Source: US Census Bureau

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