Florida Pension Investments Surpass Targeted Rate of Return

The State Board of Administration (SBA) of Florida announced on Tuesday that investments in the Florida Retirement System (FRS) Pension Plan increased 17.4 percent during the second half of 2013 and the first half of 2014. The SBA had been targeting an increase of 17 percent.

On June 30, the FRS contained investments totaling $149.1 billion in market value, an increase of $16.7 billion from a year before.

Ash Williams, the SBAs executive director and chief investment officer, said the gains were the result of prudence, patience, and diversification.

While recovery of the financial markets continues and we are certainly pleased with our current performance, we cant lose sight of the fact that it is the long-term performance that matters most, Williams said on Tuesday. The 20- and 25-year periods have generated returns of 8.83 percent and 9.02 percent respectively.