The Florida Legislature
Office of Program Policy Analysis and Government Accountability
Progress Report: Use of Investment Returns Has Increased; Plan for Addressing Associated Risks Should Be Documented, Report No. 06-68, November 2006
Full report in PDF format
The SBA has generally performed well in achieving its investment objective for FRS pension plan assets. However, as the system has matured, it would be beneficial for the SBA to provide the Legislature with more information to assist in budget planning. We recommend that the
- state’s long-range financial outlook include projections of contributions to the pension plan;
- SBA better document its approach to control short-term volatility of investment returns; and
- SBA report the results of 2006 statutory changes increasing its flexibility in making alternative investments.
What were our earlier findings?
Report No. 04-70 OPPAGA Report: Multi-Year Projections of Retirement System Funding Should Be Provided to the Legislature, published in October 2004.
Which Government Program Summaries contain related information?
Dept. of Management Services (DMS)
Fire Marshal (DFS)
State Board of Administration (SBA)
What other OPPAGA-related materials are available?
- Report No. 16-06 Over the Long-term, Major SBA Fund Returns Exceeded Market-Based Investment Benchmarks; FRS Pension Fund Multi-Year Performance Similar to Other States.,published in November 2016.
- Report No. 15-05 FRS Pension Plan Investment Returns Are Similar to Other Public Pension Funds; SBA Continues to Increase Alternative Investments,published in March 2015.
- Report No. 13-05 FRS Pension Plan Investment Returns Are Similar to Those of Other States; SBA Is Increasing Alternative Investments,published in February 2013.
- Report No. 11-10 Compared to Other States, the Pension Plan Is Better Funded, Incurs Lower Investment Fees, and Has Fewer Trustees; Investment Returns Are Average,published in February 2011.
- Report No. 10-15 Several Options Are Available for Modifying the Florida Retirement System’s Class Structure to Reduce System Costs,published in January 2010.
- Report No. 09-24 Florida Retirement System Pension Plan Valuation Met Standards,published in April 2009.
- Report No. 09-16 Retirement Fund Investments Decline with the Economy But Still Meet Several Performance Benchmarks; SBA Must Improve Communication with Its Stakeholders,published in March 2009
- Report No. 08-72 Economically Targeted Investment Program Under Development, published in December 2008.
- Report No. 08-30 Florida Retirement System Pension Plan Fully Funded and Valuation Met Standard, published in April 2008.
- Report No. 04-70 OPPAGA Report: Multi-Year Projections of Retirement System Funding Should Be Provided to the Legislature, published in October 2004.
- Report No. 02-37 Program Review: While State Board of Administration Investments Perform Relatively Well, the SBA Should Reassess Planned Expansion of Alternative Investments, published in June 2002.
- Report No. 99-52 Program Review: Investment of Florida Retirement System Assets Meets Goals, But Earnings Could Be Increased, published in May 2000.
- Report No. 98-10 Oversight Report on the State Board of Administration's 1996-97 Investment Report, published in August 1998.
Copies of this report in print or
alternate accessible format may be obtained by telephone (850/488-0021), by FAX (850/487-9213), in person, or by mail (OPPAGA Report
Production, Claude Pepper Building, Room 312, 111 W. Madison St., Tallahassee,
e-mail address: email@example.com
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