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Florida Statute 175.361 | Lawyer Caselaw & Research
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The 2024 Florida Statutes

Title XII
MUNICIPALITIES
Chapter 175
FIREFIGHTER PENSIONS
View Entire Chapter
F.S. 175.361
175.361 Termination of plan and distribution of fund.For any municipality, special fire control district, chapter plan, local law municipality, local law special fire control district, or local law plan under this chapter, the plan may be terminated by the municipality or special fire control district. Upon termination of the plan by the municipality or special fire control district for any reason or because of a transfer, merger, or consolidation of governmental units, services, or functions as provided in chapter 121, or upon written notice by the municipality or special fire control district to the board of trustees that contributions under the plan are being permanently discontinued, the rights of all employees to benefits accrued to the date of such termination and the amounts credited to the employees’ accounts are nonforfeitable. The fund shall be distributed in accordance with the following procedures:
(1) The board of trustees shall determine the date of distribution and the asset value required to fund all the nonforfeitable benefits after taking into account the expenses of such distribution. The board shall inform the municipality or special fire control district if additional assets are required, in which event the municipality or special fire control district shall continue to financially support the plan until all nonforfeitable benefits have been funded.
(2) The board of trustees shall determine the method of distribution of the asset value, whether distribution shall be by payment in cash, by the maintenance of another or substituted trust fund, by the purchase of insured annuities, or otherwise, for each firefighter entitled to benefits under the plan as specified in subsection (3).
(3) The board of trustees shall distribute the asset value as of the date of termination in the manner set forth in this subsection, on the basis that the amount required to provide any given retirement income is the actuarially computed single-sum value of such retirement income, except that if the method of distribution determined under subsection (2) involves the purchase of an insured annuity, the amount required to provide the given retirement income is the single premium payable for such annuity. The actuarial single-sum value may not be less than the employee’s accumulated contributions to the plan, with interest if provided by the plan, less the value of any plan benefits previously paid to the employee.
(4) If there is asset value remaining after the full distribution specified in subsection (3), and after the payment of any expenses incurred with such distribution, such excess shall be returned to the municipality or special fire control district, less return to the state of the state’s contributions, provided that, if the excess is less than the total contributions made by the municipality or special fire control district and the state to date of termination of the plan, such excess shall be divided proportionately to the total contributions made by the municipality or special fire control district and the state.
(5) The board of trustees shall distribute, in accordance with subsection (2), the amounts determined under subsection (3).

If, after 24 months after the date the plan terminated or the date the board received written notice that the contributions thereunder were being permanently discontinued, the municipality or special fire control district or the board of trustees of the firefighters’ pension trust fund affected has not complied with all the provisions in this section, the Department of Management Services shall effect the termination of the fund in accordance with this section.

History.s. 1, ch. 63-249; s. 5, ch. 65-58; s. 22, ch. 81-168; s. 48, ch. 83-217; s. 21, ch. 86-41; s. 38, ch. 93-193; s. 934, ch. 95-147; s. 36, ch. 99-1; s. 8, ch. 2009-97.

F.S. 175.361 on Google Scholar

F.S. 175.361 on Casetext

Amendments to 175.361


Arrestable Offenses / Crimes under Fla. Stat. 175.361
Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 175.361.



Annotations, Discussions, Cases:

Cases Citing Statute 175.361

Total Results: 4

Board of Trustees v. Town of Lake Park

Court: Fla. Dist. Ct. App. | Date Filed: 2007-10-03T00:53:00-07:00

Citation: 966 So. 2d 448

Snippet: are nonforfeitable." § 175.361, Fla. Stat. (2006). Section 175.361(3) also sets forth a methodology…counterclaim, alleging the Town violated sections 175.361, 112.0515 and 175.091(d), Florida Statutes. The…actuary to fund actuarial deficiencies. Section 175.361, Florida Statutes, specifically pertains to the…employees' accounts are nonforfeitable. § 175.361, Fla. Stat. (2006) (emphasis added). In 1999, the…Plan's assets as set forth within section 175.361, Florida Statutes, upon termination of the Plan

Florida League of Cities, Inc. v. Department of Insurance and Treasurer

Court: Fla. Dist. Ct. App. | Date Filed: 1989-02-27T23:53:00-08:00

Citation: 540 So. 2d 850

Snippet: rule 4-54.049, both of which would apply section 175.361 to local law plans as well as chapter plans. This…reasons previously set forth, we hold that section 175.361 is applicable only to chapter plans, and thus find…175.081, 175.191, 175.231, 175.261, 175.333 and 175.361 to local law plans would have a significant economic… of the statute. (6) The provisions of Section 175.361, Florida Statutes, shall apply to all retirement

Ago

Court: Fla. Att'y Gen. | Date Filed: 1984-11-01T23:53:00-08:00

Snippet: benefits to firefighters in conjunction with s 175.361, F.S., dealing with termination of the plan and

Ago

Court: Fla. Att'y Gen. | Date Filed: 1978-12-21T23:53:00-08:00

Snippet: contributions made by the city and state.' Section 175.361(3)(d), F. S. See also s. 185.37, F. S., which contains