Florida Retirement System

Home Investment Funds

Investment Funds You Can Choose

The FRS Investment Plan features 21 funds, you can choose, including 11 funds spread across five asset classes, and 10 retirement date funds that are mixtures of various asset classes. A Self-Directed Brokerage Account is also available. Select an investment fund to see additional information about the fund.

Effective July 1, 2014, the Investment Plan fund lineup changed. Some of the existing funds were combined to create new funds, and a slate of Retirement Date Funds replaced the FRS Select Balanced Funds. For more information, please review the publication "Investment Plan Fund Lineup Changes".

Below is a table that includes those funds available on or after July 1, 2014, and a list of those funds that were available prior to July 1, 2014 but are no longer offered.

Investment Funds Available on or After July 1, 2014

These funds invest in a diversified portfolio of other FRS Investment Plan funds and use an asset allocation concept called "target date funds." The mix of funds in each Retirement Date Fund is based on the amount of time you have before retirement, and the mix gradually changes as your retirement gets nearer. This gradual change follows a careful investment strategy called a "glide path."


See the following for more Retirement Date Fund information:

These funds invest in short-term securities (financial instruments or obligations) that are high quality and can be sold quickly with little loss of value. Because of these investments, the funds have limited risk of declining in value. However, over the long term, money market investment returns have been modest, basically keeping pace with inflation. Money market funds are not FDIC insured or guaranteed.

These funds invest in a diversified array of assets that may help offset inflationary pressures. These assets include but are not limited to U.S. Treasury inflation-linked securities, commodities, real estate investment trusts, gold and other securities. The funds seek long term real (net of inflation) returns to preserve the future purchasing power of accumulated assets. You could lose money over short or long periods by investing in this fund and returns may not keep pace with inflation.

Bond Funds invest primarily in fixed income securities which are similar to IOUs. The short-term risk of bond funds is relatively low. However, over time, the value of a bond is affected by interest rates, inflation and other factors.

U.S. Stock Funds invest primarily in stocks issued by U.S. companies The short-term risk of investing in stocks has been much higher than bonds. However, over long periods of time, stocks have generally performed better than bonds.

Foreign and Global Stock Funds invest primarily in stocks issued by foreign companies. Compared to U.S. stocks, foreign stocks are affected by additional risk factors such as foreign laws and regulations, differences in accounting practices, political and currency risks. Over the long-term, foreign stocks have provided additional diversification benefits.

The Self-Directed Brokerage Account (SDBA) allows you to invest in thousands of different investment options in addition to the Investment Plan's primary investment funds. To participate in the SDBA you must maintain a minimum balance of $5,000 in the Investment Plan's primary investment funds and initial and subsequent transfers into the SDBA must be at least $1,000. An SDBA is for experienced investors and is not suitable for all members. There are risks associated with many of the investments in the SDBA and you assume the full risk and responsibility for the investments you select.