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.

What is the reason given for the largest US private sector employer to stop offering coverage?

What alternatives are mentioned in relation to the Affordable Care Act?

What is the estimated value of the increase in the bid for Allergan?

Who is the activist investor that first approached the company in April?

What action is Florida's retirement system planning to take regarding its PIMCO investment?