Florida Retirement System Slashes Pimco Investment

The transcript discusses changes in health coverage by a major US employer for part-time workers due to rising healthcare costs and the Affordable Care Act. It also covers Valeant and Pershing Square's renewed bid for Allergan, and Florida's decision to reduce its investment in PIMCO, affecting its pension and 401-style programs.

Why is the largest US private sector employer changing its health coverage policy?

• To reduce employee working hours

• Due to increasing healthcare costs and new alternatives

• To increase employee benefits

• To comply with new labor laws

What is the main goal of Valeant and Pershing Square's actions regarding Allergan?

• To partner with Allergan for a new product

• To acquire Allergan with a sweetened bid

• To sell Allergan's assets

• To merge with another company

Who is the activist investor involved in the Allergan acquisition attempts?

• Bill Ackman

• George Soros

• Carl Icahn

• Warren Buffett

What action is Florida's retirement system taking regarding its investment with PIMCO?

• Significantly reducing its investment

• Switching to a different investment firm

• Maintaining the current investment level

• Increasing its investment

How much money is Florida's retirement system planning to withdraw from PIMCO's management?

• Exactly two billion dollars

• No withdrawal planned

• More than a billion dollars

• Less than a billion dollars