Plan Information/Trustee Reports
FRS Pension Plan Total Assets
unaudited as of September 30, 2019
FRS Investment Plan Total Assets
unaudited as of September 30, 2019
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.
FRS Annual Report - The FRS Annual Report provides comprehensive information about the FRS and other state-administered retirement systems.
FRS Actuarial Valuation - The FRS Actuarial Valuation provides comprehensive information about the financial and funding status of the FRS.
Audited Financial Statements - The audited financial statements for the FRS Pension Plan and Investment Plan.
Objectives and Guidelines - Objectives and guidelines the State Board of Administration follows in managing the Florida Retirement System Pension Plan and Investment Plan.
Investment Policy Statement - The investment guidelines for the Florida Retirement System Pension Plan and Investment Plan.
State Board of Administration's Website - Additional reports can be found on the State Board of Administration's website.
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.