Florida Retirement System (FRS) vs South Carolina Retirement System
Side-by-side pension health comparison from DOL and public plan data
Florida Retirement System (FRS) and South Carolina Retirement System are meaningfully apart on the LakeQuality pension-health rubric: Florida Retirement System (FRS) grades B while South Carolina Retirement System grades C. Funding ratios: 82% vs 55%.
Florida Retirement System (FRS) comes out ahead on the composite rubric. For a participant in either plan, the spread is informative but not directly actionable — pension participation is not portable, so the relevant question is what each plan's funded-status trajectory means for that participant's benefit security.
Verdict
Florida Retirement System (FRS) has a stronger Pension Health Score of 76/100 (B) compared to South Carolina Retirement System at 52/100 (C). Funding ratios differ by 27.1 percentage points (82.2% vs 55.1%). Florida Retirement System (FRS) covers 1,065,000 participants.
| Metric | Florida Retirement System (FRS) | South Carolina Retirement System |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 76/100 (B)* | 52/100 (C) |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 82.2%* | 55.1% |
| Total Assets | $190.0B | $35.5B |
| Total Liabilities | $231.1B | $64.4B* |
| Unfunded Liability | $41.1B | $28.9B* |
| Participants | 1,065,000 | 575,000 |
| 1-Year Investment Return | 6.5%* | 5.2% |
| Plan Type | public | public |
| PBGC Risk Level | low | high |
| Sponsor | State of Florida | State of South Carolina |
Florida Retirement System (FRS) has a stronger Pension Health Score of 76/100 (B) compared to South Carolina Retirement System at 52/100 (C). Funding ratios differ by 27.1 percentage points (82.2% vs 55.1%). Florida Retirement System (FRS) covers 1,065,000 participants.