Florida Retirement System

The Florida Retirement System (FRS) is a major public pension and investment benefits program, administered by the Florida Division of Retirement. It provides both the defined benefit FRS Pension Plan and the defined contribution FRS Investment Plan. Capabilities include managing substantial financial assets, processing member benefits, and overseeing programs like the Retiree Health Insurance Subsidy.

The Florida Retirement System was established by the Florida Legislature on December 1, 1970. This creation resulted from consolidating various pre-existing state and county retirement systems, including the Teachers' Retirement System. The central insight was to unify disparate plans into a robust, consistent statewide framework for public sector retirement benefits.

Serving over 1.2 million active, retired, and vested public employees across Florida, the FRS caters to state and local government personnel. Its mission, through the Division of Retirement, is to deliver a high-quality, cost-effective retirement solution. The system continually evolves offerings to ensure sustainable financial security and diverse planning options for its membership.