The Department of Management Services' Division of Retirement is organized as follows.
The Director's Office, under the leadership of the Director of Retirement, coordinates actuarial services and pension liability reporting in ACFR and schedules, and analyzes legislation. Bureaus reporting to the Deputy Director of Member Services:
Bureaus reporting to the Deputy Director of Technology and Support Services:
The division's primary responsibility is to administer the Florida Retirement System Pension Plan, including the Deferred Retirement Option Program (DROP). It also administers other state-administered retirement programs: the State University System Optional Retirement Program, Senior Management Service Optional Annuity Program, and the Retiree Health Insurance Subsidy Program.
The division also oversees and monitors the actuarial soundness of local government retirement systems that are not part of the Florida Retirement System, as well as pension plans for municipal police and firefighters under Chs. 185 and 175, Florida Statutes. In addition, the division is responsible for approving the distribution of insurance premium tax revenues to qualified municipal police officer and firefighter pension plans.
Fund | Salary Rate/ Position | General Revenue | Trust Funds | |
---|---|---|---|---|
SALARY RATE | ||||
POSITIONS | ||||
SALARIES AND BENEFITS | ||||
FROM GENERAL REVENUE FUND | ||||
FROM OPERATING TRUST FUND | ||||
FROM OPTIONAL RETIREMENT PROGRAM TRUST FUND | ||||
FROM POLICE AND FIREFIGHTER'S PREMIUM TAX TRUST FUND | ||||
FROM RETIREE HEALTH INSURANCE SUBSIDY TRUST FUND | ||||
OTHER PERSONAL SERVICES | ||||
FROM OPERATING TRUST FUND | ||||
FROM OPTIONAL RETIREMENT PROGRAM TRUST FUND | ||||
EXPENSES | ||||
FROM OPERATING TRUST FUND | ||||
FROM OPTIONAL RETIREMENT PROGRAM TRUST FUND | ||||
FROM POLICE AND FIREFIGHTER'S PREMIUM TAX TRUST FUND | ||||
FROM RETIREE HEALTH INSURANCE SUBSIDY TRUST FUND | ||||
OPERATING CAPITAL OUTLAY | ||||
FROM OPERATING TRUST FUND | ||||
SPECIAL CATEGORIES | ||||
ACQUISITION OF MOTOR VEHICLES | ||||
FROM OPERATING TRUST FUND | ||||
SPECIAL CATEGORIES | ||||
TRANSFER TO DIVISION OF ADMINISTRATIVE HEARINGS | ||||
FROM OPERATING TRUST FUND | ||||
SPECIAL CATEGORIES | ||||
CONTRACTED SERVICES | ||||
FROM GENERAL REVENUE FUND | ||||
FROM OPERATING TRUST FUND | ||||
FROM OPTIONAL RETIREMENT PROGRAM TRUST FUND | ||||
FROM POLICE AND FIREFIGHTER'S PREMIUM TAX TRUST FUND | ||||
FROM RETIREE HEALTH INSURANCE SUBSIDY TRUST FUND | ||||
SPECIAL CATEGORIES | ||||
OVERTIME | ||||
FROM OPERATING TRUST FUND | ||||
SPECIAL CATEGORIES | ||||
RISK MANAGEMENT INSURANCE | ||||
FROM OPERATING TRUST FUND | ||||
SPECIAL CATEGORIES | ||||
CONTRACTED LEGAL SERVICES | ||||
FROM OPERATING TRUST FUND | ||||
SPECIAL CATEGORIES | ||||
LEASE OR LEASE-PURCHASE OF EQUIPMENT | ||||
FROM OPERATING TRUST FUND | ||||
FROM POLICE AND FIREFIGHTER'S PREMIUM TAX TRUST FUND | ||||
SPECIAL CATEGORIES | ||||
TRANSFER TO DEPARTMENT OF MANAGEMENT SERVICES - HUMAN RESOURCES SERVICES PURCHASED PER STATEWIDE CONTRACT | ||||
FROM GENERAL REVENUE FUND | ||||
FROM OPERATING TRUST FUND | ||||
FROM OPTIONAL RETIREMENT PROGRAM TRUST FUND | ||||
FROM POLICE AND FIREFIGHTER'S PREMIUM TAX TRUST FUND | ||||
FROM RETIREE HEALTH INSURANCE SUBSIDY TRUST FUND | ||||
DATA PROCESSING SERVICES | ||||
NORTHWEST REGIONAL DATA CENTER (NWRDC) | ||||
FROM OPERATING TRUST FUND | ||||
PENSIONS AND BENEFITS | ||||
DISABILITY BENEFITS TO JUSTICES AND JUDGES | ||||
FROM GENERAL REVENUE FUND | ||||
PENSIONS AND BENEFITS | ||||
FLORIDA NATIONAL GUARD | ||||
FROM GENERAL REVENUE FUND | ||||
PENSIONS AND BENEFITS | ||||
STATE OFFICERS AND EMPLOYEES (NON-CONTRIBUTORY) | ||||
FROM GENERAL REVENUE FUND | ||||
TOTAL |
19,059,864 |
27,386,070 |
The 2022 Legislature enacted Chapter 2022-159, Laws of Florida, which authorizes new blended rates for FRS employers and increases the employer contribution to Investment Plan members' accounts by 3% for each membership class effective July 1, 2022. The law also modifies DROP participation for eligible law enforcement officers whose positions are covered by the Special Risk Class.
Other Reports
The FRS provides plan information and trustee reports on its website.
2021 Florida Local Government Retirement Systems Annual Report, Department of Management Services, 2021.
Florida Retirement System Pension Plan Actuarial Valuation as of July 1, 2021, Milliman, December 1, 2021
Florida Retirement System Pension Plan and Other State Administered Systems Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2021, Department of Management Services, 2021.
Florida Retirement System Pension Plan and Other State Administered Systems Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2020, Department of Management Services, 2020.
2019 Wilshire Report on State Retirement Systems: Funding Levels and Asset Allocation, Wilshire Consulting, March 2019.
Websites of Interest
National Association of State Retirement Administrators
National Institute of Pension Administrators
Pensions and Investments Online
State and Local Government Benefits Association
Employee Benefits Research Institute
Performance Information
Division of Retirement, 850-907-6500