SBA Investments Exceed Expectations for 2009-10

On Wednesday, the State Board of Administration released its annual report, looking at how its investments performed between July 2009 to June 2010.

Ash Williams, the executive director and chief investment officer for the SBA, said he was happy with the results as the Florida Retirement System Pension Plan brought in a 14.03 percent return -- ahead of the 11.5 percent that he had targeted.

The SBA has a history of cumulatively producing required returns since the funds inception, said Williams. Over the past 22 years, more than 66 percent of pension plan benefit payments have been funded by investment gains, not from taxpayers."

Williams added that the second half of 2010 was also proving good.

Since June 30 .. the pension fund value has grown an additional $9 billion to over $118 billion after approximately $1.5 billion being paid to retirees, said Williams.