What you'll find here: Performance Report to the Trustees - Florida Retirement System Pension Plan and Investment Plan performance report, provided by the State Board of Administration to the Trustees.
SBA Annual Investment Report - Annual investment report from the State Board of Administration to the Trustees, including the performance of the Florida Retirement System Pension Plan and Investment Plan.
Funding Levels - As of the July 1, 2018 valuation, the Pension Plan had actuarial assets of $156.1 billion and actuarial liabilities of $185.9 billion,
resulting in a plan funding level of 83.9%.
You can view a chart that compares the plan's actuarial liabilities to the plan's actuarial assets for the past five fiscal years. The annual benefit payments to FRS retirees and beneficiaries (shown in white on the chart) are a part of the overall plan liabilities.
During years when the Pension Plan is determined to be less than 100% actuarially funded, the Florida Legislature may take steps to improve the funding level by increasing employee or employer contributions or lower plan costs by reducing future Pension Plan benefits. Pension Plan underfunding or future cost increases to fund the FRS may make it necessary for the Florida Legislature to lower the amount that employers contribute to Investment Plan members' accounts or increase the amount that employees contribute to their Investment Plan accounts. The legislature may make changes to the FRS at any time.