Florida Public Pension Plans

What the Data Says About Florida Public Pensions

Florida currently sponsors 5 public pension plans tracked by the Public Plans Database (PPD), covering a combined 1,049,117 active employees and retirees across teacher, police-and-fire, judicial, municipal, and general state systems. The weighted average funded ratio across these 5 plans is 74.7%, with a combined unfunded liability of $23.28B. These disclosures derive from Form 5500 filings submitted to the Department of Labor and actuarial valuations reported through NASRA and Boston College's Center for Retirement Research.

Florida's average funded ratio sits near or slightly below the national public-pension average of 72–75%, indicating moderate funding gaps that require sustained employer contributions and realistic assumption-setting to avoid erosion over the next economic cycle. The $23.28B unfunded liability represents the actuarial shortfall between projected obligations and current assets across all 5 plans, which flows through to state and local budgets over time as amortization payments.

Unlike private-sector pensions, which fall under ERISA and are backstopped by the Pension Benefit Guaranty Corporation (PBGC), Florida's public plans rely on the full faith and credit of the sponsoring government entity. That distinction matters for the 1,049,117 Florida workers and retirees covered by these systems: funding shortfalls are addressed through state and local budget decisions rather than federal insurance. This information summarizes official Public Plans Database disclosures and is provided for research and educational purposes only. It is not financial, legal, or retirement-planning advice; active and retired members with questions about their specific benefits should consult their plan administrator directly.