The SBA serves a variety of stakeholders, including school districts, local governments, and the state. The board manages its largest fund for active and retired members of the Florida Retirement System, the majority of whose members are from school districts (48.7%), counties (23.1%), and state government (19.7%). To help public employees make informed financial decisions related to retirement, the SBA operates the MyFRS Financial Guidance Program. This program provides financial and retirement planning services through a variety of media. The program's website provides additional information.
In addition, numerous local governments and school districts participate in the SBA's Florida PRIME, which is designed to maximize short-term earnings for its participants. Moreover, the SBA's Hurricane Catastrophe Fund benefits all Floridians with residential property insurance. Finally, the SBA provides administrative services to the Division of Bond Finance.
The SBA does not receive an annual legislative appropriation. Its operational and administrative expenses are funded through fees derived from its investment management fees.
The SBA's Fiscal Year 2019-20 total operating budget is $50,618,730.49.
John Kuczwanski, Manager of External Affairs, 850-413-1254, email: John.Kuczwanski@sbafla.com