Florida RS Basics

  • Established 1970
  • Currently open to new hires
  • Plan covers state and local employees
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, Florida RS, 2001-2019

Fiscal Year Net Assets (billions)
2001 97.3
2002 88.1
2003 88.3
2004 100.9
2005 108.2
2006 116.3
2007 134.3
2008 124.5
2009 96.5
2010 107.2
2011 126.6
2012 120.0
2013 129.7
2014 150.0
2015 148.5
2016 141.8
2017 154.1
2018 161.2
2019 163.6

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2019

Fiscal Year Florida RS US State and Local Pensions
2001 2.9 2.5
2002 2.7 2.4
2003 2.4 2.3
2004 2.3 2.2
2005 2.2 2.1
2006 2.1 2.1
2007 2.0 2.0
2008 1.9 2.0
2009 1.8 1.9
2010 1.7 1.8
2011 1.5 1.7
2012 1.4 1.6
2013 1.3 1.5
2014 1.3 1.5
2015 1.2 1.5
2016 1.2 1.4
2017 1.2 1.4
2018 1.2 1.3
2019 1.1 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Florida RS, 2001-2019

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll {role:annotation}
2001 9.6 0.0 5.0 8.8 8.8
2002 8.0 0.2 4.8 8.2 8.2
2003 8.1 0.2 5.7 8.3 8.3
2004 8.1 0.7 7.3 8.8 8.8
2005 9.0 0.0 9.0 8.9 8.9
2006 8.3 0.3 9.3 8.7 8.7
2007 10.3 0.0 10.0 9.3 9.3
2008 10.4 0.0 10.4 9.7 9.7
2009 10.6 0.0 10.2 9.5 9.5
2010 10.5 0.0 10.5 9.5 9.5
2011 11.9 2.4 12.5 14.3 14.3
2012 4.8 3.2 12.9 8.0 8.0
2013 5.6 2.9 13.9 8.5 8.5
2014 8.9 0.0 14.5 8.9 8.9
2015 9.7 0.0 14.9 9.7 9.7
2016 9.7 0.0 14.8 9.7 9.7
2017 9.9 0.0 15.1 9.9 9.9
2018 10.7 0.0 18.1 10.7 10.7
2019 11.6 0.0 18.9 11.6 11.6

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Florida RS, 2001-2019

Fiscal Year Florida RS National Data
2001 117.9 106.5
2002 115.0 101.1
2003 114.2 94.2
2004 112.1 93.1
2005 107.3 91.1
2006 105.6 90.5
2007 105.7 91.2
2008 105.4 90.2
2009 87.9 83.2
2010 88.0 81.5
2011 86.9 80.4
2012 86.4 78.9
2013 85.4 78.7
2014 86.6 79.0
2015 86.5 78.2
2016 85.4 76.3
2017 84.3 76.4
2018 83.9 76.5
2019 82.6 76.0

Source: Public Plans Database

National data averages are weighted by plan size and reflects the average for plans of similar type and Social Security coverage.

Investments

Asset Allocation for Florida RS, 2019

Category Percent
Equities 54.8
Fixed Income 18.8
Private Equity 7.3
Real Estate 9.3
Cash 1.2
Other 0.0
Commodities 0.0
Hedge Fund 8.6
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.1
Fixed Income 22.6
Private Equity 9.3
Real Estate 9.1
Cash 1.6
Other 0.0
Commodities 1.9
Hedge Fund 6.8
Misc. Alternatives 1.6

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Florida RS, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 66.1 25.3 3.6 4.1 1.0 0.0 0.0 0.0 0.0
2002 63.7 26.3 3.3 4.3 2.4 0.0 0.0 0.0 0.0
2003 67.2 23.0 3.4 4.6 1.4 0.0 0.0 0.0 0.0
2004 70.0 20.2 3.4 5.7 0.5 0.0 0.0 0.0 0.0
2005 69.9 21.7 3.2 4.9 0.3 0.0 0.0 0.0 0.0
2006 69.9 21.3 3.1 4.9 0.8 0.0 0.0 0.0 0.0
2007 59.3 24.2 3.2 6.0 2.9 0.0 0.0 4.4 0.0
2008 54.1 29.8 3.4 7.7 0.9 0.0 0.0 4.1 0.0
2009 55.7 28.6 3.6 7.8 0.9 0.0 0.0 3.4 0.0
2010 54.4 30.5 4.1 6.5 0.4 0.0 0.0 4.1 0.0
2011 60.2 24.8 4.4 6.5 1.0 0.0 0.0 3.2 0.0
2012 56.5 25.5 5.3 7.6 0.9 0.0 0.0 4.3 0.0
2013 59.1 22.0 5.2 7.7 0.9 0.0 0.0 5.1 0.0
2014 60.2 20.2 5.4 7.4 1.3 0.0 0.0 5.4 0.0
2015 58.1 19.8 6.0 8.3 0.8 0.0 0.0 6.9 0.0
2016 56.3 18.9 6.4 9.4 0.8 0.0 0.0 8.2 0.0
2017 57.8 17.9 6.4 8.9 0.8 0.0 0.0 8.2 0.0
2018 56.1 18.7 7.1 8.9 1.1 0.0 0.0 8.1 0.0
2019 54.8 18.8 7.3 9.3 1.2 0.0 0.0 8.6 0.0

Source: Public Plans Database


Annual Return as of June 30 for Florida RS, 2001-2019

Fiscal Year Florida RS Assumed return
2001 -7.60 8.00
2002 -8.07 8.00
2003 2.85 8.00
2004 16.65 7.75
2005 10.18 7.75
2006 10.56 7.75
2007 18.07 7.75
2008 -4.42 7.75
2009 -19.03 7.75
2010 14.03 7.75
2011 22.09 7.75
2012 0.29 7.75
2013 13.12 7.75
2014 17.40 7.65
2015 3.67 7.65
2016 0.54 7.60
2017 13.77 7.50
2018 8.98 7.40
2019 6.26 7.20

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Florida RS
2001-2019

Fiscal Year Cash Flow Assets
2001 -758.6 97,279.1
2002 -1,273.3 88,142.0
2003 -2,502.3 88,349.0
2004 -2,186.6 100,933.6
2005 -2,988.1 108,206.4
2006 -3,240.8 116,340.0
2007 -3,326.4 134,315.2
2008 -3,493.2 124,466.8
2009 -3,256.7 96,503.2
2010 -4,028.6 107,180.0
2011 -4,799.0 126,579.7
2012 -6,464.2 119,981.5
2013 -6,643.1 129,672.1
2014 -5,859.7 150,014.3
2015 -6,765.5 148,454.4
2016 -7,545.3 141,780.9
2017 -6,598.2 154,053.3
2018 -6,869.8 161,196.9
2019 -7,113.2 163,573.7

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Florida RS
2001-2019

Fiscal Year Florida RS National Average
2001 -0.8 -2.3
2002 -1.4 -2.3
2003 -2.8 -2.6
2004 -2.2 -1.7
2005 -2.8 -1.9
2006 -2.8 -1.9
2007 -2.5 -1.7
2008 -2.8 -1.9
2009 -3.4 -2.7
2010 -3.8 -2.9
2011 -3.8 -2.8
2012 -5.4 -3.1
2013 -5.1 -3.0
2014 -3.9 -2.7
2015 -4.6 -2.8
2016 -5.3 -3.0
2017 -4.3 -2.9
2018 -4.3 -2.4
2019 -4.3 -2.7

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for Florida RS benefit descriptions.