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Department of Management Services

FRS Alerts

Click here to continue to Retirement.

Did you know?

The Florida Retirement System (FRS) offers a variety of online tools, including videos and webcasts, covering pertinent educational topics such as: new hire plan choice, financial planning, plan provisions and more. Click here and take a few minutes to see what is available.
Become more educated about the FRS plans and your financial future!

BE FOREWARNED

When the FRS is less than 100 percent funded, the legislature may reduce future benefits to lessen plan liabilities, or may raise employee contributions to increase funding. The legislature may make changes to FRS at any time.

Plans…

FRS also offers an Investment Plan with a shorter vesting period, which allows you to control your investments and take vested contributions with you if you leave government employment. After your initial plan selection, you are permitted to switch between plans once before terminating your employment. We strongly encourage all employees to take advantage of no cost or obligation Advisory Services provided by Ernst & Young.

Articles on Pension Plan Abuse

http://www.palmbeachpost.com/opinion/columnists/schultz-west-palm-chief-set-for-life-on-1901915.html

http://www.sun-sentinel.com/news/florida/mh-city-pensions-costing-taxpayers-millions-of-dollars-20110918,0,4658212.story

Funding of the FRS Pension Plan

The FRS Pension Plan funding valuation takes place annually, available December 1st and was 86.9 percent funded, as of July 1, 2012. You can view a chart (Adobe PDF Document) 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 (Adobe PDF Document)) are a part of the overall plan liabilities.

 

Florida's Retirement System Assets and Liabilities Chart link button

 
The market value of total assets of the FRS Pension Plan is updated monthly and is available here.