MyFRS.com and the MyFRS Financial Guidance Program, which provides educational
resources to all Florida Retirement System (FRS) members, are sponsored by
the State Board of Administration of Florida (SBA). The SBA is statutorily
responsible for the FRS Investment Plan and the FRS Pension Plan, the
fourth largest pension plan in the nation.
The SBA is also responsible for twenty-eight additional investment mandates,
including the Florida Hurricane Catastrophe Trust Fund, Lawton Chiles
Endowment Fund, Local Government Surplus Funds Trust Fund, Division of
Bond Finance Funds, and Department of Lottery Funds. Total assets under
management exceed $160 billion.
A three-member Board of Trustees governs the SBA. The three trustees are
Governor Charlie Crist, as Chairman, Chief Financial Officer Alex Sink,
as Treasurer, and Attorney General Bill McCollum, as Secretary.
They have the legal authority and fiduciary responsibility for the investments
of assets under management, subject to limitations as outlined in
Section 215.47, Florida Statues. The Trustees delegate to the SBA's Executive
Director, who serves as the Chief Investment Officer,
the day-to-day administrative and investment authority, within statutory
limitations and rules, to manage the investment of assets.
The Trustees, Executive Director and staff always act solely in the best
interest of FRS participants and beneficiaries. At the SBA, we clearly
understand that thousands of Florida's state government employees, public
school teachers, local public safety officers, firefighters and retirees
count on us to provide superior investment and trust services while adhering
to the highest ethical, fiduciary and professional standards.
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