Florida Statutes Part VII - Actuarial Soundness Of Retirement Systems (Ss. 112.60-112.67)

• 112.60 - Short Title.
  This part may be cited as the “Florida Protection of Public Employee Retirement Benefits Act.”History.—s. 1, ch. 78-170.
• 112.61 - Legislative Intent.
  It is the intent of the Legislature in implementing the provisions of s. 14, Art. X of the State Constitution, relating to governmental retirement systems,...
• 112.62 - Application.
  The provisions of this part are applicable to any and all units, agencies, branches, departments, boards, and institutions of state, county, special district, and municipal...
• 112.625 - Definitions.
  As used in this act:(1) “Retirement system or plan” means any employee pension benefit plan supported in whole or in part by public funds, provided such...
• 112.63 - Actuarial Reports And Statements Of Actuarial Impact; Review.
  (1) Each retirement system or plan subject to the provisions of this act shall have regularly scheduled actuarial reports prepared and certified by an enrolled actuary....
• 112.64 - Administration Of Funds; Amortization Of Unfunded Liability.
  (1) Employee contributions shall be deposited in the retirement system or plan at least monthly. Employer contributions shall be deposited at least quarterly; however, any revenues...
• 112.65 - Limitation Of Benefits.
  (1) ESTABLISHMENT OF PROGRAM.—The normal retirement benefit or pension payable to a retiree who becomes a member of any retirement system or plan and who has...
• 112.656 - Fiduciary Duties; Certain Officials Included As Fiduciaries.
  (1) A fiduciary shall discharge his or her duties with respect to a plan solely in the interest of the participants and beneficiaries for the exclusive...
• 112.658 - Office Of Program Policy Analysis And Government Accountability To Determine Compliance Of The Florida Retirement System.
  (1) The Office of Program Policy Analysis and Government Accountability shall determine, through the examination of actuarial reviews, financial statements, and the practices and procedures of...
• 112.66 - General Provisions.
  The following general provisions relating to the operation and administration of any retirement system or plan covered by this part shall be applicable:(1) The provisions of...
• 112.661 - Investment Policies.
  Investment of the assets of any local retirement system or plan must be consistent with a written investment policy adopted by the board. Such policies...
• 112.664 - Reporting Standards For Defined Benefit Retirement Plans Or Systems.
  (1) In addition to the other reporting requirements of this part, within 60 days after receipt of the certified actuarial report submitted after the close of...
• 112.665 - Duties Of Department Of Management Services.
  (1) The Department of Management Services shall:(a) Gather, catalog, and maintain complete, computerized data information on all public employee retirement systems or plans in the state based...
• 112.67 - Special Acts Prohibited.
  Pursuant to s. 11(a)(21), Art. III of the State Constitution, the Legislature hereby prohibits special laws or general laws of local application in conflict with...

Last modified: September 23, 2016