Florida Retirement System (FRS) vs Wisconsin Retirement System (WRS)
Side-by-side pension health comparison from DOL and public plan data
Florida Retirement System (FRS) (B) and Wisconsin Retirement System (WRS) (A) are close on the LakeQuality rubric. Funding ratios sit at 82% and 98% respectively — within a few points of each other.
With grades this close, the comparison turns on plan-specific factors: status (active vs frozen), participant maturity, sponsor financial health, and multi-year trajectory rather than the headline composite.
Verdict
Wisconsin Retirement System (WRS) has a stronger Pension Health Score of 86/100 (A) compared to Florida Retirement System (FRS) at 76/100 (B). Funding ratios differ by 16.2 percentage points (98.4% vs 82.2%). Wisconsin Retirement System (WRS) covers 665,000 participants.
| Metric | Florida Retirement System (FRS) | Wisconsin Retirement System (WRS) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 76/100 (B) | 86/100 (A)* |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 82.2% | 98.4%* |
| Total Assets | $190.0B | $122.0B |
| Total Liabilities | $231.1B | $124.0B* |
| Unfunded Liability | $41.1B | $2.0B* |
| Participants | 1,065,000 | 665,000 |
| 1-Year Investment Return | 6.5% | 7.2%* |
| Plan Type | public | public |
| PBGC Risk Level | low | low |
| Sponsor | State of Florida | State of Wisconsin |
Wisconsin Retirement System (WRS) has a stronger Pension Health Score of 86/100 (A) compared to Florida Retirement System (FRS) at 76/100 (B). Funding ratios differ by 16.2 percentage points (98.4% vs 82.2%). Wisconsin Retirement System (WRS) covers 665,000 participants.