The pension fund also reported three- and five-year annualized returns of 9.44% and 9.72%, respectively, and 10-year returns of 8.01%. The Florida State Board of Administration, which administers the legislatively mandated programs relating to investments of the FRS, estimated its funded ratio was 87% as of the end of its fiscal year, calculated using a market-based funded ratio. It also projected that under the current asset allocation, it expects the funded level to reach 100% by fiscal 2042. The SBA also reported that the state pension fund’s current asset allocation consists of 78% return-seeking assets and has an expected return of 6.32%, less than the FRS’ 6.70% actuarial assumed rate of return. Related Stories:Florida SBA Files Complaint Against Target for LGBT Pride CampaignFlorida CFO Tells Pension Funds to Consider Crypto InvestmentsFlorida State Board of Administration Reducing Allocation to StocksTags: Florida Retirement System, Florida State Board of Administration