Florida Statutes

Fla. Stat. § 185.23 (2025)

Duties of Division of Retirement; rulemaking authority; investments by State Board of Administration.

✓ 2025 Florida Statutes — current through the 2025 Regular Session

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185.23 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 municipal police officers’ retirement 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 municipal police officers’ retirement plans. The funds to pay the 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 in accordance with ss. 215.44-215.53. Costs incurred by the board in carrying out the provisions of this section shall be deducted from the interest and investment income accruing to the trust fund.

History.—s. 20, ch. 28230, 1953; ss. 13, 35, ch. 69-106; s. 45, ch. 93-193; s. 7, ch. 95-250; s. 13, ch. 98-200; s. 65, ch. 99-1; s. 30, ch. 2000-151; s. 50, ch. 2012-116.

Notes of Decisions

Cited in 3 cases, 1987–2010 · leading case: State, Dep't Mgmt. Servs. v. City of Delray Beach, 40 So. 3d 835 (Fla. 1st DCA 2010).

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State, Dep't Mgmt. Servs. v. City of Delray Beach, 40 So. 3d 835 (Fla. 1st DCA 2010). · cites it 4× “See § 185.23(1), Fla. Stat. Because the right to receive the additional annual benefit increase is dependent on continued legislative appropriations and the Plan's compliance with current law, it can be fairly characterized as either an expectant right or a contingent right.”

City of St. Petersburg v. Remia, 41 So. 3d 322 (Fla. 2d DCA 2010). “Moreover, section 185.23(2) authorizes the DOR “to adopt rules pursuant to ss.”

Florida League of Cities v. Dep't of Ins. & Treasurer, 25 Fla. Supp. 2d 221 (Fla. Div. Admin. Hr'g 1987). “” See also Section 185.23, Florida Statutes. In *229 carrying out this responsibility, the Department argues persuasively that it was guided by Section 175.”

— 185.23(1) — 1 case

State, Dep't Mgmt. Servs. v. City of Delray Beach, 40 So. 3d 835 (Fla. 1st DCA 2010). “See § 185.23(1), Fla. Stat. Because the right to receive the additional annual benefit increase is dependent on continued legislative appropriations and the Plan's compliance with current law, it can be fairly characterized as either an expectant right or a contingent right.”

— 185.23(2) — 1 case

City of St. Petersburg v. Remia, 41 So. 3d 322 (Fla. 2d DCA 2010). “Moreover, section 185.23(2) authorizes the DOR “to adopt rules pursuant to ss.”

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