The State Board of Administration of Florida (SBA) provides a variety of investment and trust services to various Florida governmental entities. A key responsibility is to manage the assets of the Florida Retirement System Pension Plan, which is one of the largest public pension plans in the United States. The SBA’s primary focus is on investment management as it does not administer pension plan benefits. The SBA is responsible for administering the FRS Investment Plan (a defined contribution plan), the Lawton Chiles Endowment Fund, the Local Government Surplus Funds Trust Fund (currently known as Florida PRIME), the Florida Hurricane Catastrophe Fund and a variety of smaller funds.
At the SBA, we recognize that it is the talented colleagues behind our investment and trust management services who enable us to prudently balance risk and rewards and adhere to the highest professional and fiduciary standards. We are committed to seeking individuals who will enhance our team by contributing both to our knowledge pool and to the ethics and integrity that underscore our services.
The SBA is governed by a 3-person Board of Trustees, which is comprised of the state’s Governor, Chief Financial Officer, and Attorney General. The Trustees delegate authority to the Executive Director/Chief Investment Officer (ED/CIO), who serves at the discretion of the Trustees and is responsible for managing and directing all administrative, personnel, budgeting, investment policy, and investment functions.