Report to the Trustees - Florida Retirement System Pension Plan and Investment Plan performance report, provided by the State Board of Administration to the Trustees.

• October 2011 Monthly Report
• September 2011 Quarterly Report

SBA Annual Investment Report for Fiscal Year 2010-2011
Annual investment report from the State Board of Administration, including the performance of the Florida Retirement System Pension Plan and Investment Plan. Provided by the State Board of Administration to the Trustees.

Objectives and Guidelines - Objectives and guidelines the State Board of Administration follows in managing the Florida Retirement System Pension Plan and Investment Plan.

• Pension Plan
• Investment Plan

Investment Policy Statement - The investment guidelines for the Florida Retirement System Pension Plan and Investment Plan.

• Pension Plan
• Investment Plan

State Board of Administration's Website
Additional reports can be found on the State Board of Administration's website.

Funding Levels - As of the July 1, 2011 valuation, the Pension Plan had actuarial assets of $126.1 billion and actuarial liabilities of $144.1 billion, resulting in a plan funding level of 87.5%. During years when the Pension Plan is determined to be less than 100% actuarially funded, the Florida Legislature may take steps to improve the funding level by increasing employee or employer contributions or lower plan costs by reducing future Pension Plan benefits.

Pension Plan underfunding or future cost increases to fund the FRS may make it necessary for the Florida Legislature to lower the amount that employers contribute to Investment Plan members' accounts or increase the amount that employees contribute to their Investment Plan accounts.