Fla. Retirement System narrowly tops benchmark - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Fla. Retirement System narrowly tops benchmark

TALLAHASSEE, Fla. (AP) -- State officials say the Florida Retirement System narrowly beat its investment benchmark during the budget year that ended June 30.

The State Board of Administration on Wednesday also reported the system ended the year with $122.7 billion in assets.

The fund covers state and county employees including teachers as well as some municipal workers.

The system earned a positive return of 0.29 percent and topped its benchmark by 0.77 percent.

Ash Williams, the board's executive director, said that followed two years of unusually strong performances.

Williams said the system continues to meet its 7.75 percent annual rate of return on a long-term basis of 20 years or more. But he said that goal may have to be lowered because of changing market conditions.

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