|FRS Pension Plan||FRS Investment Plan|
|The State Board of Administration (SBA) manages the Pension Plan trust fund investments for all Pension Plan members. The SBA's fund managers make all of the investment decisions on behalf of the trust.
Any investment gains or losses are borne by the trust fund, and they do not affect your accrued retirement benefit. Your benefit under the Pension Plan is fixed by a formula that considers your age, FRS membership class, service and salary - and not investment performance.
|You assume the risk and rewards of your investment decisions. Investment results will affect your retirement benefit.