Since 2002, unfunded liabilities have grown by over $130 billion from $86.5 billion to $217.4 billion in 2022, with a deficit of $38 billion.

The State Board of Administration is responsible for investing and managing the funds from the FSR and over 25 other funds as tasked by the Florida Legislature.

Gov. Ron DeSantis is the chair of the Board of Trustees for SBA, which is composed of two other members — Chief Financial Officer Jimmy Patronis and Attorney General Ashley Moody.