Florida Retirement System (FRS)
public plan · State of Florida · Tallahassee, FL
Funding History
What This Means for You
Florida Retirement System (FRS) is in good financial health at 82% funded. This means for every dollar the plan owes in future benefits, it has 82 cents in assets to cover it. As a public pension, benefits are typically backed by the taxing authority of the sponsoring government. Participants in this plan have relatively low risk of benefit reductions.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2023 | $190.0B | $231.1B | 82.2% | $7.5B |
| 2022 | $184.3B | $227.5B | 81.0% | $7.3B |
| 2021 | $178.6B | $210.1B | 85.0% | $7.0B |
| 2020 | $172.9B | $218.9B | 79.0% | $6.8B |
| 2019 | $167.2B | $203.9B | 82.0% | $6.6B |
Other Pension Plans in FL
Frequently Asked Questions
Florida Retirement System (FRS) is 82% funded, meaning it has 82 cents in assets for every dollar in future benefit obligations. This is considered healthy by actuarial standards.
Florida Retirement System (FRS) has 1,065,000 total participants, including 560,000 active employees and 505,000 retirees currently receiving benefits.
Florida Retirement System (FRS) is not covered by the PBGC. Benefits depend entirely on the plan's assets and the sponsor's ability to fund it.
The Pension Health Score (0-100, A-F) measures a pension plan's financial strength based on funding ratio (50%), funding trend over 3 years (30%), and PBGC risk level (20%). Higher scores indicate more secure retirement benefits.
Pension Health Score is calculated from funding ratio, 3-year funding trend, and PBGC risk classification.