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Over the Long-term, Major SBA Fund Returns Exceeded Market-Based Investment Benchmarks; FRS Pension Fund Multi-Year Performance Similar to Other States, Report No. 16-06, November 2016
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  • Over the long-term, State Board of Administration investment returns for all five major mandate funds met or exceeded market-based investment benchmarks.
  • While its one-year return for Fiscal Year 2015-16 was less than 1%, the Florida Retirement System (FRS) Pension Plan fund generally exceeded market-based investment benchmarks over the long term. Similarly, while the fund’s one-year return for Fiscal Year 2014-15 was less than returns for some other states with large pension funds, its multi-year performance was comparable.
  • The Florida PRIME Fund also exceeded market-based investment benchmarks. One-year returns for the FRS Investment Plan, the Florida Hurricane Catastrophe Fund, and the Lawton Chiles Endowment Fund fell short of benchmarks in Fiscal Year 2015-16, but met or exceeded 3-year, 5-year, and 10-year benchmarks.

Which Government Program Summaries contain related information?

State Board of Administration of Florida

What other OPPAGA-related materials are available?

  • Report No. 19-04 During Fiscal Years 2016 Through 2018, Major SBA Fund Returns Exceeded Market-Based Investment Benchmarks Over the Long Term,published in March 2019.
  • 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. 10-60 The Florida Growth Fund Added Investments in 2010, but It Is Still Too Early to Assess Total Economic Impact,published in December 2010.
  • Report No. 10-29 FRS Defined Contribution Plan Costs Are Typically More Predictable; the Fiscal Impact of Requiring New Employees to Enroll in the Plan Is Influenced by Many Factors,published in March 2010.
  • Report No. 10-19 Florida Retirement System Funds and Investment Returns Declined with the Economy; the SBA Reports That Its Investment Strategy Is Designed to Withstand Losses,published in February 2010.
  • 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. 09-45 SBA Has Implemented the Florida Growth Fund; Economic Impact of Investments May Not Be Apparent for Several Years,published in December 2009.
  • Report No. 08-72 Economically Targeted Investment Program Under Development,published in December 2008.
  • Report No. 06-68 Progress Report: Use of Investment Returns Has Increased; Plan for Addressing Associated Risks Should Be Documented,published in November 2006.
  • Report No. 04-70 Multi-Year Projections of Retirement System Funding Should Be Provided to the Legislature,published in October 2004.
  • Report No. 02-37 While State Board of Administration Investments Perform Relatively Well, the SBA Should Reassess Planned Expansion of Alternative Investments,published in June 2002.

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