Florida Retirement System pension plan posts strong year

TALLAHASSEE, Fla. (AP) — Florida's main retirement account for state workers, teachers and other public employees is growing by a double-digit margin.

The State Board of Administration released preliminary numbers Tuesday showing that the Florida Retirement System plan grew 17.4 percent in the last fiscal year.

The pension plan had a market value of more than $149 billion at the end of June. That left the pension plan with a nearly $17 billion increase.

Some Republican leaders in the Florida Legislature have questioned the fiscal health of the pension plan over the last two years.

State investment officials also reported that the number of state workers choosing to enroll in the state investment plan is continuing to grow as well. The investment plan functions fairly similar to 401(k) plans offered by private employers.

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