The State Board of Administration's (SBA) performance in investing Florida Retirement System assets not only exceeded its overall investment objective in 1995-96 but also for longer periods covering the last 20 years.
The SBA's allocation of Florida Retirement System assets was within ranges established in its long-term investment plan.
Investment returns for various asset classes were higher than or close to performance targets over three- and five-year periods.
The SBA's 1995-96 Investment Report contains reasonably accurate and reliable performance data. However, the SBA has some weaknesses in its management controls for ensuring data accuracy and reliability.
The 1995-96 Investment Report does not provide performance information on individual accounts in the real estate asset class.
The SBA has not developed a system for reporting on whether its managers are adhering to Investment Plan guidelines.

Investment of Florida Retirement System Assets Meets Goals, But Earnings Could Be Increased
Report 99-52 May 2000
The Florida Retirement System Continues to Be Fully Funded; Unfunded Liability Eliminated
Report 99-50 May 2000
Oversight Report on the State Board of Administration's 1996-97 Investment Report
Report 98-10 August 1998

Copies of this report in print or alternate accessible format may be obtained by email OPPAGA@oppaga.fl.gov, telephone (850) 488-0021, or mail 111 W. Madison St., Room 312 Tallahassee, FL 32399-1475.