The SBA manages, invests and safeguards assets of the Florida Retirement System Trust Fund and other funds for the State of Florida and local governments. The SBA is a non-political organization with a professional investment management staff and a strong record of delivering positive long-term returns on investment.
Founded in 1943, the SBA is required to invest assets and discharge its duties in accordance with Florida law and in compliance with fiduciary standards of care. Under state law, the SBA and its staff are obliged to:
- Make sound investment management decisions that are solely in the interest of Pension Plan participants and their beneficiaries; and
- Make investment decisions from the perspective of subject-matter experts acting under the highest standards of professionalism and care, not merely as well-intentioned persons acting in good faith.
To ensure accountability, the SBA is subject to oversight by the Board of Trustees and a variety of bodies and organizations, and follows an array of formal policies and guidelines.