175.341
Duties of Division of Retirement; rulemaking authority; investments by State Board of Administration.
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175.341 Duties of Division of Retirement; rulemaking authority; investments by State Board of Administration.—
(1) The division shall be responsible for the daily oversight and monitoring for actuarial soundness of the firefighters’ pension plans, whether chapter or local law plans, established under this chapter, for receiving and holding the premium tax moneys collected under this chapter, and, upon determining compliance with the provisions of this chapter, for disbursing those moneys to the firefighters’ pension plans. The funds necessary to pay expenses for such administration shall be annually appropriated from the interest and investment income earned on moneys deposited in the trust fund.
(2) The State Board of Administration shall invest and reinvest the moneys in the trust fund collected under this chapter in accordance with ss. 215.44-215.53. Costs incurred by the board in carrying out the provisions of this subsection shall be deducted from the interest and investment income accruing to the trust fund.
History.—s. 1, ch. 63-249; ss. 13, 35, ch. 69-106; s. 36, ch. 93-193; s. 3, ch. 95-250; s. 11, ch. 98-200; s. 34, ch. 99-1; s. 48, ch. 2012-116.
Notes of Decisions
Cited in 1
case, 1987–1987 · leading case: Florida League of Cities v. Department of Insurance & Treasurer
Florida League of Cities v. Department of Insurance & Treasurer (1987)
“The Department has broad rulemaking authority concerning municipal firefighter pension trust funds and pursuant to Section 175.341, Florida Statutes, “shall establish rules and regulations pertaining to the operation of this fund.”
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