(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 the Department of Management Services, the compliance of the Florida Retirement System with the provisions of this act.
(2) The Office of Program Policy Analysis and Government Accountability shall employ an independent consulting actuary who is an enrolled actuary as defined in this part to assist in the determination of compliance.
(3) The Office of Program Policy Analysis and Government Accountability shall employ the same actuarial standards to monitor the Department of Management Services as the Department of Management Services uses to monitor local governments.
History.—s. 18, ch. 79-183; s. 4, ch. 83-37; s. 3, ch. 96-368; s. 23, ch. 99-255.
Structure Florida Statutes
Title X - Public Officers, Employees, and Records
Chapter 112 - Public Officers and Employees: General Provisions
Part VII - Actuarial Soundness of Retirement Systems (Ss. 112.60-112.67)
112.63 - Actuarial reports and statements of actuarial impact; review.
112.64 - Administration of funds; amortization of unfunded liability.
112.65 - Limitation of benefits.
112.656 - Fiduciary duties; certain officials included as fiduciaries.
112.661 - Investment policies.
112.664 - Reporting standards for defined benefit retirement plans or systems.