The Florida Retirement System

The Florida Retirement System (FRS) is a public pension fund based in Tallahassee, Florida. Established in 1970, the fund provides death and retirement benefits to the employees of state and county government agencies, district school boards, community colleges, and universities. The plan also serves as the retirement plan for employees of cities and independent special districts that have chosen to join the system. It was created by consolidating the Teacher's Retirement System, the State and County Officers' and Employees' Retirement System, and the Highway Patrol Pension Fund. The State Board of Administration of Florida (SBA) serves as the plan sponsor. The State Board of Administration is a state constitutionally created investment management organization that invests funds for the state, among other mandates. The assets are managed by the board of trustees.