Florida pension plans for public sector state workers addresses the retirement income needs of hundreds of thousands of Florida residents who were formerly employed by the state in some capacity. Relatively speaking, the Florida pension plan is well funded when compared to other states, such as Illinois and California. According to latest reports issued by the state of Florida, the Florida pension plan was fully funded for the eleventh consecutive year and had garnered a budget surplus in excess of eight and half billion dollars. The Florida Retirement System provides covered workers with a pension income based on numerous factors, including age, number of dependants or spouse, and the length of service to the state.