Department of Management Services
Local Retirement Section
The Local Retirement Section, within the Bureau of Local Retirement Systems, reviews each of Florida’s local government defined benefit pension plans for actuarially sound funding. These reviews are conducted to ensure compliance with Part VII of Chapter 112, Florida Statutes. The Local Retirement Section also releases a report annually to the Legislature that details the activities, findings, and recommendations, concerning all local government retirement systems. The information provided on these pages will be useful for plan participants, board members, service providers, interested cities or concerned citizens.
The Actuarial Summary Fact Sheets page provides a fact sheet for each participating local government defined benefit pension plan summarizing the plan’s actuarial status, most current actuarial data, minimum funding requirements as a percentage of pay, and five-year history of funded ratios.
The Local Government Annual Reports page provides the 2020 Florida Local Government Retirement Systems Annual Report which was prepared to detail the activities, findings, and recommendations concerning all local government sponsored retirement systems. (Links to prior year reports are also available.)
The FRS Mortality Methodology page provides information about mortality tables and methodology used by the FRS based on the implementation of HB 1309 which was passed during the 2015 General Legislative Session.
Financial Rating of Local Government Defined Benefit Pension Plans
Chapter 2011-216, Laws of Florida, required the Department of Management Services to develop a plan for creating a standard rating system for use in classifying the financial strength of all local government pension plans and submit that plan to the Governor, Chief Financial Officer, President of the Senate and Speaker of the House of Representatives. The rating system, if implemented, would be developed to improve the transparency of evaluating the financial health of Florida’s local government defined benefit pension plans.
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