California Public Employees Retirement System (CalPERS) vs Florida Retirement System (FRS)
Side-by-side pension health comparison from DOL and public plan data
Verdict
Florida Retirement System (FRS) has a stronger Pension Health Score of 76/100 (B) compared to California Public Employees Retirement System (CalPERS) at 58/100 (C). Funding ratios differ by 14.9 percentage points (82.2% vs 67.3%). Florida Retirement System (FRS) covers 1,065,000 participants.
| Metric | California Public Employees Retirement System (CalPERS) | Florida Retirement System (FRS) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 58/100 (C) | 76/100 (B)* |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 67.3% | 82.2%* |
| Total Assets | $473.0B | $190.0B |
| Total Liabilities | $703.0B | $231.1B* |
| Unfunded Liability | $230.0B | $41.1B* |
| Participants | 2,050,000 | 1,065,000 |
| 1-Year Investment Return | 5.8% | 6.5%* |
| Plan Type | public | public |
| PBGC Risk Level | moderate | low |
| Sponsor | State of California | State of Florida |
Florida Retirement System (FRS) has a stronger Pension Health Score of 76/100 (B) compared to California Public Employees Retirement System (CalPERS) at 58/100 (C). Funding ratios differ by 14.9 percentage points (82.2% vs 67.3%). Florida Retirement System (FRS) covers 1,065,000 participants.